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HomeTourismAsia winners and losers in Russia-Ukraine war: commodities, weapons

Asia winners and losers in Russia-Ukraine war: commodities, weapons

Global prices for some grains have spiked since the Russia-Ukraine war started, with both countries contributing a significant percentage of the world’s supply for some of those commodities such as wheat.

Vincent Mundy | Bloomberg | Getty Images

From food prices to tourism and weapons supply, Asia-Pacific countries could be hit hard by the Russia-Ukraine war, even if they are not directly exposed to the conflict, according to a new Economic Intelligence Unit report.

Food prices are particularly sensitive to the war as both countries are significant commodity producers, according to the research firm. Some Asian countries rely on commodities such as fertilizer from Russia, and a global shortage is already driving up prices of agriculture and grains.

Given the region’s relatively high levels of dependence on energy and agricultural commodity imports – even if countries don’t source directly from Russia or Ukraine, the spike in prices will be…

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