Russia and Ukraine's Black Sea Grain Exports Grind to a Virtual Halt
9 Articles
9 Articles
Grain exports from Ukraine have largely come to a standstill as a result of Russian bombing of grain terminals in Ukrainian ports. Ukraine, in turn, is bombing Russian grain terminals. This, along with the drought and the closure of the Strait of Hormuz, means that food prices will rise sharply next year, says Freek Vossenaar, food & agro analyst at The Hague Centre for Strategic Studies. "Food inflation will reach 7 percent due to all these fac…
Russia and Ukraine's Black Sea Grain Exports Grind to a Virtual Halt
Attacks on shipping have shut down more than 97% of Russia and Ukraine's grain export capacity in the Azov and Black Sea basin, cutting off a major source of low-cost supplies and helping to drive up global prices.
Russia and Ukraine provide about 30% of the world's wheat
Wheat prices were close to the three-year maximum due to strikes on Black Sea ports, threatening up to 17% of world cereal exports.
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