In March 2022, the FAO’s benchmark food price index hit an all-time high, following Russia’s full-scale invasion of Ukraine. More than four years later, those fears of a global food crisis have revived with an escalation of two-way strikes on ports, grain terminals and cargo vessels across the Black Sea, Kerch Strait and Sea of Azov. From an agricultural trade perspective, the intensified tensions in this region arguably pose a greater threat today than the conflict in West Asia. The world has somewhat adjusted to the supply disruptions........

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