Russia Warns of Global Food Crisis as Ukrainian Drone Attacks Disrupt Black Sea Exports

Russia's grain lobby has sounded the alarm over Ukrainian drone attacks on Russian ships and ports in the Black Sea, warning that they could shut down grain exports and push up global food prices.

The Union of Grain Exporters and Producers said these attacks pose a direct threat to global food security and will soon affect many countries. They estimate that Russia's wheat export shortfall this season could reach 30-35 million metric tons, accounting for around 15% of total global wheat trade.

A Ukrainian drone attack had inflicted 'significant damage' on a major grain export terminal at Russia's port of Taman, an agricultural market source told Reuters. The Russian grain union warned that if current negative factors persist, the free-on-board price of wheat could rise to between $340 and $370 per ton, potentially exceeding $400.

The Middle East and Africa are most at risk from the fallout of this crisis since they depend on supplies from the Black Sea basin. The consequences of this disruption will soon affect many countries, including those with existing carry-over stocks and alternative suppliers.