Ukraine Faces Challenging Recovery for Seaborne Exports

Ukraine's seaborne exports are facing a challenging recovery, according to Taras Vysotskyi, the country's Minister of Agrarian Policy and Food. In an August 14 briefing, he stated that it is currently difficult to predict how quickly Ukraine will be able to restore its seaborne exports.

The suspension of the maritime corridor at the end of July led to a significant decline in Ukraine's grain exports, which from August 1-12 amounted to 590 thousand tons or 30% of the required level. Vysotskyi noted that they expect to reach 50% of the required export level going forward, but emphasized that this would still be without the full capacity of the Black Sea ports.

Regarding the Danube export route, which is currently operating at reduced capacity due to drought, Vysotskyi stated that reaching the planned level of around 1.5 million tons per month could be possible closer to the end of the year.