The blockade of ports has driven up global food prices by more than 20% — Marchuk
18 August 21:11
YOUTUBE
The suspension of full-scale Ukrainian grain exports through Black Sea ports is already affecting global food prices, and in a few months, the consequences could become much more pronounced. Denis Marchuk, deputy chairman of the All-Ukrainian Agrarian Council, made this statement in an interview with "Komersant Ukrainian".
According to him, since foreign ships stopped calling at the ports of Greater Odesa, global food prices have already risen by more than 20%.
“It hasn’t even been a month since foreign ships stopped calling at the ports of Greater Odesa, and prices have already risen by more than 20%,” Marchuk said.
He emphasized that Ukraine remains one of the key suppliers of grain to the global market. The country’s share of global wheat exports is about 6–7%, and its share of corn exports is over 11%.
The countries most dependent on Ukrainian grain are those in Asia, Africa, and the Middle East. At the same time, problems are arising not only due to the decline in Ukrainian exports but also because of the reduction in Russian shipments. According to him, the situation on the global market may currently appear more stable due to the seasonal harvest in various countries. However, once the harvest season ends, the shortage of Ukrainian and Russian grain could become much more pronounced.
“The question will arise: who will fill the gaps for Asia, Africa, and the Middle East that were previously filled by Ukraine and Russia?” Marchuk concluded.
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