Black Sea Conflict Threatens Global Food Prices

Russia's grain exports are set to take another hit as tensions between Russia and Ukraine escalate in the Black Sea region.

The conflict has led to disruptions at key ports, with three major terminals - KSK, NZT, and NKHP - suspending operations following a Ukrainian drone attack on one of them.

This development is expected to cut Russian grain exports by 0.7 to 1.2 million tons in August alone, according to experts.

The global market could experience food price increases as a result, impacting countries worldwide.