India, second-largest wheat producer, bans exports amid food supply concerns
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Market data provided by Factset. (AP Photo/Channi Anand, File / AP Newsroom)Other countries are also grappling with poor harvests that hinder their ability to help offset shortfalls due to Russia's war in Ukraine.Before the invasion, Ukraine and Russia accounted for a third of global wheat and barley exports.CLICK HERE TO READ MORE ON FOX BUSINESSGlobal wheat prices have increased by more than 40% since the beginning of the year.Earlier this month, the United Nations' Food and Agriculture Organization (FAO) slightly cut its projection of world wheat production in 2022 to 782 million tonnes, from 784 million last month.The Associated Press contributed to this report.
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