PARIS: The collapse of the Black Sea export corridor, which allowed the export of more than 32 million tonnes of Ukrainian grain over the past year, should have little immediate impact but o
, which allowed the export of more than 32 million tonnes of Ukrainian grain over the past year, should have little immediate impact but over the medium term create market tension and push up food prices.The situation is very different from February 2022, when Russia invaded Ukraine, which cut off shipping in the Black Sea, the main export route for Ukrainian agricultural products.
Wheat output is forecast to drop to 17.5 million tonnes in the 2023-2024 season from 33 million tonnes in the 2021-2022 season."In 2023-2024, Ukraine should export six million tonnes less of wheat and 10 million tonnes less of corn," said Gautier Le Molgat, an analyst at Agritel, which provides data and analysis on agricultural markets.
The Farm Foundation, a think tank that specialises in agricultural issues, estimates that half of Ukraine's agricultural exports already takes these routes.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Building collapse in Egypt capital kills eightA large portion of the buildings in central Cairo date back to the 19th and early 20th centuries. Read more at straitstimes.com.
Read more »
Ukraine ready to continue exports despite Russian exit from grain deal: ZelenskyThe agreement has enabled the export in cargo of more than 32 million tonnes of Ukrainian grain over the last year. Read more at straitstimes.com.
Read more »
Alcaraz proves he's the real deal after Paris painLONDON: The last time Carlos Alcaraz faced Novak Djokovic he was left so frightened that the Spaniard turned into a nervous wreck and ended up suffering debilitating cramps that cruelly crushed his French Open dreams in front of a global audience. What a difference five weeks can make. Up against
Read more »
Jane Birkin, actor, singer and style icon, dies at 76 in ParisIn 1984, Hermes named one of its handbags after her, after she complained to a former chief executive that she could not find a leather bag that could fit all she needed as a young mother. The Birkin became an eye-wateringly expensive and sought-after status symbol.
Read more »
Paris practises tricky Olympics opening ceremonyPARIS: Around 40 boats took part in a practice run of the hugely ambitious opening ceremony of the Paris Olympics on the river Seine on Monday (Jul 17), almost exactly a year until the sporting extravaganza begins. All circulation was stopped on the river through the centre of the City of Light on Monday m
Read more »
Russia says it prevented Ukraine ‘terrorist’ attack on Crimea’s Sevastopol portSeven aerial and two underwater drones were destroyed. Read more at straitstimes.com.
Read more »