Russia-Ukraine war booms grain prices in Germany

ISTANBUL

Grain prices in Germany posted the highest increase in March since 2011 due to the ongoing Russia-Ukraine war, official data showed on Friday.

According to a statement from Destatis, Germany's statistical office, import prices of grain rose 53.6% on a yearly basis in March.

"A higher change rate was last recorded in May 2011 (+74.0% on May 2010)," it said.

The federal statistical department underlined that the price increase was recorded for all types of grain.

"The prices of wheat increased by 65.3% in March 2022 on a year earlier, prices of barley, rye and oats by 65.3%, too, and maize prices by 37.4%," it detailed.