The first ships carrying grain exports could leave within days but already the agreement has been jeopardized by a Russian missile strike near Odesa last Saturday
The implications of the agreement are far reaching. Chornomorsk is one of the largest grain handling ports in Ukraine and around 20 million tonnes of wheat, barely, corn and other foodstuffs have been sitting in storage bins across all three ports since the war began in February. The port closures have created a global food crisis in countries that rely on Ukrainian grain: most of that supply was destined for Egypt, Indonesia, Pakistan and a host of countries on the brink of famine.
The war changed everything. Ukraine’s wheat exports are expected to fall by 41 per cent this year, according to Viktoria Rozhko an analysts at APK Inform, an agriculture consulting firm based in Dnipro. So much grain has been put in warehouses that prices for Ukrainian wheat and barley have fallen by more than half, making it virtually impossible for farmers to cover their production costs.
She’s not convinced that ships will be able to cross the sea safely and she questions whether insurance companies will be willing to take on the risks. “The problem is that maybe the vessel can go outside of the waters of Odesa region, but then what happens in the Black Sea?,” she asked. “We don’t know.”
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