The situation in Ukraine has an impact on global markets, economist of the UN Food and Agriculture Organisation (FAO) Monika Tothova told N1, stressing that the markets were already in a difficult situation prior to the war due to the COVID pandemic. She spoke about the rise of the prices of food and other products due to the Ukraine war and whether the poverty in the world is likely to increase as a consequence.

Tothova recalled that wheat is grown in Ukraine as a winter crop, so it was planted last year, approximately in October, November, which means the harvest comes in June, July depending on the weather conditions.

Out of some 30 tonnes of wheat from last year, Ukraine managed to export 18 million tonnes this year before the war broke out, she said, noting that the export is no longer possible due to the blockades.

Watch the full interview in the video.