grain corridor market pressure markets initiative

Time to Expand “Grain Initiative” to Ports of Mykolaiv Region

Mintec Global
Spread the news!

On January 30, President Volodymyr Zelenskyy proposed extending the Black Sea Grain Initiative to the ports of Mykolaiv region and removing obstacles to ship traffic. He said this during a joint press conference with Danish Prime Minister Mette Frederiksen in Odesa, Ukrinform reports.

“I thank Denmark for joining our Grain from Ukraine initiative. It is very important that this initiative, as well as food exports from Odesa, from our ports, from Ukraine as a whole, not only continued but also expanded. It is time to expand the Black Sea Grain Initiative, in our opinion, to the ports of Mykolaiv region and remove any obstacles that restrict the relevant movement of ships,” Zelenskyy said. He expressed hope for Denmark’s support in this matter.

The consequences for poor countries can be severe not because of the lack of grain on the market, but because of high prices. Grain may be physically available, but it will be very expensive.

The EU countries are interested in expanding the grain agreement, exporting and importing a full range of agricultural products.

“The Grain Initiative has already helped to increase the volume of food exports from Ukraine during the war by almost five times. In September, Ukrainian agrarians exported 6.9 million tons of food by all means of transportation. This is a record figure since the beginning of Russia’s full-scale invasion. Compared to August, the volume of rail and sea transportation of agricultural products increased by 41%.

Despite all the measures taken to improve grain logistics, it will not be possible to export the entire volume of grains and oilseeds in the desired timeframe. Exports will be stretched over time, so we need to work on long-term storage facilities. This was stated by First Deputy Minister of Agrarian Policy Taras Vysotsky.

Import/Export Statistics

Please click to reach our marketplace