[Featured Stock] Grain Stocks Surge Amid "Grain Disaster"

On the 19th, amid concerns over a surge in flour prices due to Russia's invasion of Ukraine and India's ban on wheat exports, citizens are shopping at a large supermarket in downtown Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] "Many countries will realize the July disaster when last year's harvested grain stocks run out."

Following this statement by Volodymyr Zelensky, President of Ukraine, grain stocks surged in the stock market on the 30th.

As of 10:14 AM that day, Sinsong Holdings recorded 11,900 KRW, up 25.26% from the previous close. Other grain stocks such as EasyBio rose 24.40%, STIO 22.65%, and Easy Holdings 15.07%, showing significant gains.

According to foreign media including CNN, on the 27th (local time), President Zelensky spoke at an online forum with an Indonesian foreign policy think tank, predicting that Russia's blockade of its major export routes has trapped nearly half of Ukraine's grain exports, posing a potential disaster for global food security. President Zelensky said, "Currently, 22 million tons (t) of grain are in storage," adding, "We are unable to supply grain to the international markets in need on time."