Russia threatens grain export halt
The Russian Grain Exporters Union warns that escalations in Ukrainian attacks on ships and ports in the Black Sea could soon halt grain exports through this vital corridor, posing a threat to global food security and leading to rising food prices, especially in Africa and the Middle East. It is anticipated that Russian wheat supplies could decline by between 30 and 35 million tons, approximately 15% of total global wheat trade, with other producers unable to compensate for this shortfall. Concerns are growing that continued attacks may exacerbate supply chain disruptions and further increase food costs.
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