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Topline
The continuing battle in Ukraine is making it gradually more powerful for the country to export grain, Ukrainian Agriculture Minister Mykola Solskyi stated in a televised briefing Saturday, warning the gain 22 situation is having a “dramatic” affect on global markets.
Ukraine’s Agriculture Minister Mykola Solskyi stated Saturday (Photo by David Rogers/Getty Photos)
Key Facts
Ukraine’s grain shipments maintain dropped from 4 million to 5 million plenty per month to some hundred thousand, Solskyi stated.
He stated, “On each day basis the gain 22 situation will change into more and more powerful“ for the country’s grain exports if the war continues.
Ukraine became the world’s sixth-largest exporter of wheat in 2021 with a 10% fragment of the market, transport 20 million reasonably rather a lot of wheat and meslin (a mix of wheat and rye), in step with the United Worldwide locations, and the country would perchance well be one amongst the world’s top exporters of barley and sunflower seeds.
The U.N. predicted that someplace between 20% to 30% of Ukraine’s vegetation would perchance well likely be left unharvested within the 2022-23 season resulting from Russia’s assault on Ukraine.
The tumble in Ukraine’s grain exports would perchance well likely develop global food and feed costs by 8% to 22% above recent phases, the U.N. stated, which maintain been already sharply elevated.
Key Background
Russia’s invasion of Ukraine has destroyed infrastructure and closed ports. Ukrainian President Volodymyr Zelensky told Italy’s parliament Tuesday that a famine would perchance well likely affect countries spherical the globe if the war continues to disrupt Ukrainian farmers’ skill to invent their work. In early March, Ukraine blocked exports of distinct agricultural merchandise, including rye and oats, and the executive now requires sellers to build permission to export merchandise much like wheat and corn. The U.N.’s global food mark index rose to an all-time excessive in February.
Additional Reading
Ukraine’s grain export gain 22 situation worsening by the day, says agriculture minister (Reuters)
Ukraine Invasion Threatens Global Wheat Supply (New York Times)
