Ukraine's Grain Exports Plummet 70% Amid Sea Corridor Halt
Ukraine's grain exports have been severely impacted by the halt of the sea corridor since late July, according to Agrarian Policy Minister Taras Vysotsky. The country has exported only 590,000 tonnes of grain from August 1-12, which is approximately 30% of its need. Vysotsky expressed hope that they can reach 50% of their exports goal going forward.
The minister attributed the decline in exports to the drought affecting the Danube route's capacity to operate at full potential. However, he noted that Ukraine's permanent grain storage capacity is sufficient, but a shortfall of 8-11 million tonnes could emerge after the corn harvest in November. A request for $10 million has been sent to international partners to cover this temporary storage need.