Ukraine has always been known as the "granary of Europe". Industry insiders believe that the deterioration of the situation in Ukraine interferes with the food supply chain and will boost food prices. American consumer news and business channel quoted Alan Holland, CEO of keelvar, a procurement technology company, as saying on the 23rd that the deterioration of the situation will "hit" the food supply chain. Ukraine produces wheat, barley and rye and is also a major exporter of corn. "Although the harvest season is a few months away, continued conflict may still lead to a shortage of bread this autumn," Holland said Ukraine is not just dependent on Europe. Some countries in the Middle East and Africa also rely on Ukrainian wheat and corn. Dawn Chula, President of the procurement industry group, said that Ukraine's obstruction of food supply to these regions may affect food security in these regions. Wheat and corn prices have risen sharply in the past period of time. The price of wheat futures on the Chicago Board of trade has risen by about 12% since the beginning of this year. Corn futures prices rose 14.5% over the same period. "Additional [food] price shocks will only exacerbate the rise in food prices," said Pell Hong, a senior partner at Kearney, a consultancy [source: Xinhua News Agency]