Global Wheat Prices Soar as Russia-Ukraine Grain Port Disruptions Continue

Russia's attacks on Ukraine's grain ports have disrupted global wheat supplies. In July, there were 67 attacks on port facilities and 35 civilian vessels in port were attacked.

The unspoken wartime arrangement that kept Black Sea grain ships safe collapsed in July, causing delays of up to 2.5 million tons of wheat bound for Asia.

Wheat buyers from Egypt to Indonesia are paying more due to the shortage. Egypt sourced over four-fifths of its wheat imports from Russia and Ukraine in the first half of this year.

The country's private sector has less grain stored than the government, with 'the situation getting worse by the day', according to Alexandria-based trader Hesham Soliman.