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Russia alerts potential grain export halt
The Union of Grain Exporters and Producers in Russia warned that the escalation of Ukrainian attacks on Russian ships and ports in the Black Sea could lead to the halt of grain exports through this vital route, threatening global food security and driving up food prices. It is expected that Russia's wheat supplies will decrease by approximately 15%, amounting to about 30 to 35 million tons, which constitutes a significant portion of the global wheat trade, without other producers being able to compensate for this deficit. These developments increase the risks facing global supply chains and lead to higher grain prices, especially in African and Middle Eastern countries that heavily rely on importing grains from the Black Sea region.
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