Ukraine Cuts Grain Export Prices Amid Russian Port Strikes

Ukraine's agriculture minister, Taras Vysotskyi, announced that the government has lowered the minimum export prices for grain and agricultural products. This move is a response to the disruption of seaports caused by Russian strikes, which have forced exporters to reroute shipments through European ports.

The previous system set an indicative grain export price of $220 per metric ton and a minimum price of $180. However, logistics costs climbed sharply after exporters began using more expensive routes, adding $50 per metric ton in costs.

Vysotskyi explained that if grain sells for $220 per ton in Constanta, the additional freight costs leave a net price of about $170 at Ukraine's border, which is below the indicative price. The government acted after farmers and industry associations asked it to intervene, resulting in a one-time reduction in the minimum price to keep exports from stopping.