Abstract
The article notes that Russian and Ukrainian grain exports account for more than a quarter of the total volume of wheat on the world market. Due to the acute armed political conflict, wheat exports from Russia and Ukraine fell sharply. The result revealed that a decrease in world wheat trade by only 1 percent could increase exporters’ prices for wheat by 1.1 percent. It was determined that an increase in the pricing policy of producers by 1 percent can reduce wheat consumption by 0.59 percent. A decrease in wheat exports from Russia and Ukraine may worsen the situation with shortages of food products in the countries of the Middle East and Africa. To increase their regional food security, developing countries must, as part of strengthening state food policy, expand domestic wheat production using the latest technologies and additional investments in agricultural development.
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