🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Ukraine Says Sea Blockade Threatens Global Food Security

Published 05/13/2022, 11:36 PM
© Reuters.

(Bloomberg) -- Blockaded ports in Ukraine are threatening global food security, as the country struggles to reroute grain shipments due to bottlenecks caused by Russia’s invasion, according to Ukrainian officials.

Most of Ukraine’s ports have been shut since the war erupted, limiting its grain exports to rail and road routes via neighboring European Union nations. That has curtailed shipments to 1.1 million tons in April, versus about 5 million tons a month in normal times. 

“We have no major alternative to sea transport,” Deputy Economy Minister Taras Kachka said during an online conference on Friday. Rerouting cargoes would take years to organize, and the European Union’s infrastructure currently isn’t set up to handle a massive redirection over land routes, he added.

Ukraine, one of the world’s largest grain exporters, is a key supplier to nations from Europe to Africa and Asia. The war has caused a massive backlog. Kachka said a solution, would need need the assistance of allies including the US, is needed quickly to avoid compromising global food security.

Poland’s Gdansk port and Romania’s Constanta are already overcrowded with supplies from Ukraine as supplies are re-routed, according to Mustafa Nayyem, Ukraine’s deputy minister of infrastructure. Fuel trucks are struggling with clogged checkpoints at the EU border, said Nayyem, who is part of the government’s team helping the country secure supplies after Russia bombed its refineries and depots.

©2022 Bloomberg L.P.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.