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Markets

Farming stocks flourish as Ukraine war hits food supply

Seafood, fertilizer and equipment companies buck market downtrend

A storage warehouse near a Nutrien potash mine. Shares in Nutrien, the world's largest fertilizer maker, have soared during the Ukraine conflict.   © Reuters

TOKYO -- As the war in Ukraine has stirred unease about global food supplies, money is flooding into agriculture stocks, lifting prices even as the broader market flirts with bear territory.

While the broad MSCI World Index has fallen about 5% since its close on Feb. 23, the day before Russia's invasion of Ukraine, a narrower index focusing on agriculture names gained 6% over the same period, rallying from a 1% decline to start the year.

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