Black Sea Attacks Cut Russia-Ukraine Wheat Exports in Half

Russia and Ukraine's wheat exports are expected to plummet by half in the coming months due to attacks on ports and commercial vessels in the Black Sea, exacerbating the global food crisis.

The two countries account for more than a quarter of global wheat trade, and the blockade of major maritime routes has driven prices to their highest levels in three years. Transport and war-risk insurance costs have skyrocketed as importers in Africa, Asia, and the Middle East seek alternative sources.

Ukrainian ports in the Odesa region, which normally handle around 90% of the country's grain exports, have been repeatedly attacked. In the first 11 days of August, only seven vessels entered these ports compared to 169 in July.