Russia-Ukraine War Strains Global Grain Exports And Prices
· World · The Independent, Hindustan Times
Escalating hostilities between Russia and Ukraine around the Black Sea have disrupted vital grain exports, with analysts warning of a potential 9.3 per cent rise in global food prices this year. Ukrainian exports dropped 75 per cent year-on-year in early August, as Russian strikes hit ports and vessels repeatedly. Russia, the world's largest grain exporter, has also seen its own export volumes contract significantly. Experts at Oxford Economics suggest that without alternative routes, grain exports from the region may reach only 20 million tonnes, roughly half of pre-blockade forecasts.
Why it matters
The ongoing blockade threatens food security for millions globally and is expected to drive up costs for essential commodities, impacting both consumers and import-dependent nations.
Read the original report — The Independent
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