Russia’s grain shipments drop by half

Russia’s grain shipments drop by half

Grain shipments from Russia have more than halved due to traffic restrictions in sea and river ports, the country’s grain union announced on Wednesday.

“Before the current situation [the war in Ukraine and sanctions on Russia], daily shipments of grain from Russia amounted to 100,000 tons. Now the volume is less than 40,000 tons,” the union’s president, Arkady Zlochevsky, said, as cited by RIA Novosti.

Not only has navigation via the Sea of Azov, which hosts several large Russian ports, been halted, but also shipments on river-sea routes in the Azov Basin, Zlochevsky explained, adding that only long-term contracts were currently permitted to be fulfilled.

Russia is the world’s largest exporter of wheat, accounting for over 18% of international exports. Together with Ukraine, which has also stopped shipping grain, the two countries account for about 30% of global wheat supplies. The crisis threatens to push food prices across the world to an all-time high.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

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