Russia begins ban on grain exports

Russia has imposed a ban on wheat and other grain exports until the end of the year, following the severe drought and the outbreak of wildfires, which have destroyed one-third of the harvest and ravaged agricultural land, which have sparked fears of increased costs and food shortages. Approximately 10 million hectares of agricultural land has been devastated by the fires, following the worst heatwave in Russian history. Russia is one of the world's third largest producer of wheat, barley and rye. But according to President Dmitry Medvedev, a quarter of the country's crops have been destroyed. Global wheat prices have skyrocketed to a two-year high due to the ban, and there are worries about a crisis in global food supplies.