Ukraine lost a third of its grain export capacity due to Russian attacks

Today, 07:56 | Economy 
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Ukraine has lost about a third of its grain export capacity through key Black Sea ports due to increased Russian missile and drone attacks.. This is reported by Reuters with reference to a statement by the All-Ukrainian Agrarian Council. According to the organization, Ukrainian ports, which remain the main route for agricultural exports, can now ship about 4 million tons of grain per month. Previously, this figure was approximately 6 million tons.. “Russia began to systematically strike at port infrastructure, terminals and the entire transport and logistics chain, again using ballistic missiles,” the VAR noted. More than 90% of Ukrainian exports of grain and vegetable oils pass through three ports in the Odessa region. Agricultural products remain one of the main sources of foreign exchange earnings for the Ukrainian economy. Due to Russian attacks, traders have problems with product purchases, sales, shipments, cargo accumulation, prices and transportation costs. According to Ukrzaliznytsia, the number of grain carriers heading to Odessa ports in the period from July 2 to July 8 decreased by 11% compared to the previous week, while export volumes decreased by 17%. One of the largest Ukrainian grain exporters Kernel suspended work at the port of Chernomorsk due to a series of Russian attacks. In addition, four of 13 large grain terminals have suspended grain purchases. Analysts note that due to risks, shipowners are less willing to call at Ukrainian ports, which has already caused an increase in freight costs. According to Bohdan Kostetsky, an analyst at Barva Invest, ports have lost about a third of grain storage capacity, or about 2.5 million tons per month. Ukraine is one of the key players in the global agricultural market: the country provides about 6% of world wheat exports and about 11% of corn exports. If Russian attacks continue, disruptions could affect not only Ukrainian exports, but also global grain prices. Let us remind you that on July 11, as a result of a Russian attack on the port infrastructure of Odessa region, two people were killed and two more were injured.. A civilian merchant ship flying the St. Kitts and Nevis flag and cargo vehicles were damaged. Russia has increased attacks on Ukrainian ports News from Telegram and WhatsApp. Subscribe to our channels https://t. me/korrespondentnet and WhatsApp.

Источник: Корреспондент.net