Russia and Ukraine are both major commodity producers. Although Russia accounts for less than 2% of global exports, it is a much more significant player in commodity markets. Russia on its own produces about 10% of the world’s oil, and controls about another 10% of global copper reserves, while also being a major producer of nickel, platinum and fertilisers.
Russia and Ukraine together account for a third of the world’s wheat, a fifth of the world’s corn production, and 80% of the world’s sunflower oil shipments, according to the US Department of Agriculture. Ukraine has steadily increased its exports over the years, and is now a huge provider of raw materials, chemical products and even machinery like transportation equipment.
Jubilee Metals Group (LON:JLP) is a global, diversified metal recovery company that operates world-class projects, ensuring a positive impact on the environment and its stakeholders.
