Black Sea Grain Exports Threatened by Ukrainian Drone Attacks

Russia's main grain lobby group has warned that Ukrainian drone attacks on Russian ships and ports could shut down grain exports via the Black Sea, threatening global food security. The Union of Grain Exporters and Producers told Reuters that the consequences of the Ukrainian attacks would be felt by many countries soon.

Ukrainian President Volodymyr Zelenskiy said on Friday that Russian attacks on shipping in the Black Sea were threatening global food security, and urged European partners to help combat this. The disruption to shipping in the Black Sea caused by Ukrainian attacks on dry cargo vessels and port infrastructure poses a direct threat to global food security.

Russia's Ministry of Defence said on Friday that its forces had struck 31 ships linked to the Ukrainian military in the past week, including 23 cargo ships and four bulk carriers. The shortfall in supply of Russian wheat to other countries this season could reach 30-35 million metric tons, accounting for around 15% of total global wheat trade.

The Kremlin said it was premature to comment on reports that US and Ukrainian officials were discussing the possibility of an air ceasefire as part of peace proposals to take to Russia. The price of wheat is expected to rise to between $340 and $370 per ton, with the prospect of it exceeding $400.