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Odessa siege raises food security concerns
Ukrainian grain exports via the Black Sea face a significant threat due to the escalating Russian attacks on the ports of Odessa, resulting in an almost complete halt in shipping activity and the loss of millions of tons of crops, especially with the harvest season approaching. This has led to a 75% reduction in Ukraine's grain exports during the first two weeks of August, with forecasts now revised downward to approximately 38-40 million tons for the 2026-2027 season, compared to the previous estimate of 43 million tons. The disruption of transportation and increased costs have contributed to this decline. Additionally, the halt in grain exports has pushed up global prices despite accumulating production within Ukraine, threatening global food security and increasing risks for importing countries that rely on Ukrainian wheat and corn exports.
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