×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Wednesday
01
Jul 2026
weather symbol
Athens 29°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Shortage of Ukraine wheat set to push Somalia inflation past 10%

The country’s “unsustainable” trade deficit is likely to widen further as importers struggle to find alternative markets to import basic goods

Newsroom May 4 12:43

Δείτε περισσότερα άρθρα μας στα αποτελέσματα αναζήτησης

Add Protothema.gr on Google

Somalia’s inflation is expected to surge past 10% unless the country gets good rains over the next two months to help ease pressure on food prices after losing wheat supplies from Ukraine, according to a top official at its central bank.

Inflation picked up significantly “due to continued lower food production, but this time wheat, which is mostly sourced from Ukraine and flour which is sourced from Turkey have become scarce, pushing prices even higher,” Abdilahi Ali, executive director for Monetary, Financial and Regulatory Policy, said in an emailed response to questions.

The Horn of Africa nation is experiencing its worst drought in four decades, with an estimated 7.7 million people in need of food aid. An Islamist insurgency that’s disrupted production and the war in Ukraine has exacerbated shortages — the country relies on Russia and Ukraine for more than 90% of its wheat imports.

The cost of wheat and flour has climbed, while that for gas used for cooking has doubled in recent months, Ali said. Inflation was at 6.1% in March, national statistics agency data show. The last time it was higher than 10% was in 2006.

See Also:

Amazon invests in robots to work alongside humans

Also, the country’s “unsustainable” trade deficit is likely to widen further as importers struggle to find alternative markets to import basic goods such as wheat, he said.

>Related articles

Bank of America: The Greek investment story is entering a more mature phase

Pierrakakis: IRIS is the success story of the Greek digital economy

Keiko Fujimori was declared president of Peru following a three-week electoral thriller

The crisis has opened the door for militant group al-Shabaab to bolster its numbers and comes as lawmakers are due to elect a new president in a vote already delayed a year.

“We are hoping for an above-average rainy season which is expected from now until the end of June so that, at least by the end of the year, domestic food production can act as a substitute or at least complement lower-than-expected food imports,” Ali said. “If these two do not happen, then double-digit inflation is likely, which is something not seen in Somalia for a long time.”

Source: Bloomberg

Ask me anything

Explore related questions

#economy#food#inflation#Somalia#war#wheat#wheat shortages#world
> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Deputy PM at the Newmoney conference: “We are shaping the image of a country that is moving forward and implementing reforms”

June 30, 2026

Five-storey luxury apartment block was planned beside Petralona building that collapsed

June 30, 2026

Oreokastro fire: Search for missing child – of man found dead and woman rescued with burns – winds have eased, 115 firefighters on the scene

June 30, 2026

New Democracy at 30.5%, Tsipras’s ELAS at 16.5%, PASOK and Karystianou tied for third place, MARC poll reveals

June 30, 2026

US Supreme Court upholds birthright citizenship in major blow to Trump

June 30, 2026

Kyriakos Mitsotakis to attend presentation of New Democracy Parliamentary Group’s new digital platform

June 30, 2026

Extreme heat kills five in Italy in 24 hours as WHO calls Europe meeting

June 30, 2026

How Greece’s new ‘open’ occupational pension funds will work for small businesses

June 30, 2026
All News

> Greece

In reverence, the emotional deposition in Jerusalem, see photos & video

The Holy Temple of the Resurrection opened after many days due to the war between Israel and Iran

April 10, 2026

In the final stretch for the accreditation of joint master’s degrees: Aiming for their launch in the coming academic year

April 10, 2026

Schedule for Epitaph Procession today (10/4)

April 10, 2026

Perfect weather for Easter excursions, according to Tsatrafyllia’s forecast

April 10, 2026

Easter in Greece: The customs that continue in Greek tradition – From Nafpaktos to Corfu

April 10, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα