The global supply chain and logistics are currently facing severe stress not only from the fallout from the ongoing Russia-Ukraine armed conflict but also from local and regional outbreaks of the Covid-19 pandemic in China and Hong Kong, leading to severe lockdowns.

 

With both Russia and Ukraine being major producers of commodities, raw materials and agricultural products, substantial rise in commodities has been observed across the board. The most visible impact has been the rise in crude oil prices that has surpassed $100 per barrel, which will lead to inflationary pressure across the globe. 

 

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