Ukraine Grain Exports at Risk as Russia Blocks Black Sea Ports

Ukraine's agriculture minister Taras Vysotskyi warned that Russia's attacks on Black Sea ports have put around half of this year's grain and oilseed exports at risk. The country is trying to find alternative export routes, but they won't be ready until the end of August and will only cover 50-55% of the volumes handled by disrupted sea ports.

The attacks on ships and facilities in Ukraine's Odesa port hub have been intense, with 67 strikes at port facilities in July alone. This compares to just 14 attacks on vessels for all of last year. Shipowners have suspended calls at the ports around Odesa due to the risk of further attacks.

The situation is causing significant losses for Ukraine's agricultural sector, which could reach between $1.5 billion and $3 billion this year. The minister also noted that prices for oilseeds and grains have declined by 30% on average as a result of the disruptions.