It is undeniable that the continuous hostilities between Russia and Ukraine have had a major effect on trade, notably on the availability and costs of certain goods like wheat, sunflower oil, and fertilizers. These products are mostly produced and exported by Russia and Ukraine, whose conflict has disrupted supply chains and raised prices and shortages.
Not going to deny these facts. The war has created a spike in the prices for wheat, sunflower oil and fertilizer. But in the long run, the prices will come down. Because if the retail price remains much above the cost of production, then other countries will increase their production of these commodities and eventually the prices will come down. For example, USA and Australia are among the top producers of wheat. The farmers in these countries have already increased the net cropped area in 2023, encouraged by higher prices.