frigidweirdo
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- Mar 7, 2014
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Exclusive-Russia sets price floor for wheat at international tenders, sources say
Russia's agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters. The recommendation introduces a de-facto price floor of $250 per metric ton...

"ussia's agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters."
Essentially Russia exports a large portion of wheat.
Wheat (HS: 1001) Product Trade, Exporters and Importers | The Observatory of Economic Complexity
Find the latest data on new markets for the exports and imports of Wheat.
"In 2022 the top exporters of Wheat were Australia ($10.2B), United States ($9.21B), Canada ($8.87B), France ($8.09B), and Russia ($5.88B)." Russia exports 8% of all exported wheat in the world.
In 2019 Russia exported 17.8%, in 2020 19.7%, 2021 15.2%
In 2019 the Ukraine exported 9.83%, which dropped to 4.46% in 2022
Russia and the Ukraine combined has the ability to produce somewhere just below 30% of the world's what exports. In 2022 that was down to 12% because of the war.
Reduce the amount of wheat that countries like Egypt, Indonesia, Bangladesh can import and the prices rise. This is a power that Russia would have if it took control of the Ukraine.
There are other reasons, like rare earth minerals, but controlling food in a world with an ever increasing population is something that can then control politics. You buy my food if I like your politics. If not, you don't get any.