Economy

Ukraine grain exports vital to global food security

In April 2024, Ukraine exported the largest volume of grain and oilseeds since the beginning of the war some 6.6 million tonnes, the British Ministry of Defense said, citing intelligence data.

"This demonstrates Ukraine's ability to export unilaterally via its shipping corridor in the Black Sea. Throughput at the Black Sea ports have almost certainly reached a monthly export volume higher than any other point in the conflict, including that achieved under the Black Sea Grain Initiative. Approximately 5.2 million tonnes out of the total grain and oilseed exports in April 2024 departed from Ukraine's Black Sea ports, compared to a peak of 4.2 million tonnes under the Black Sea Grain Initiative in October 2022," the ministry said on X media.

It is noted that the Ukrainian shipping corridor, since its launch in August 2023, has allowed for about 1,600 transit shipments of ships and the export of a total of 45 million tonnes of cargo. Most of this volume was made up of agricultural exports, which amounted to more than 30 million tonnes in nine months. The rest is mainly iron ore and steel products, which previously could not be exported by sea during the Black Sea Grain Initiative. Overall, this will contribute to the recovery of Ukraine's economy in 2024, analysts say.

"Shipping from Ukraine is highly likely vital for global food security: with Ukraine's grain exports likely to be around 9.7% of global grain exports between July 2023 and June 2024. While agricultural exports are almost certainly dependent on the Black Sea ports, representing around 78% in volume, other routes remain in use. Ukraine continues to export grain and oilseeds via the Danube River at around 15% by volume, rail at around 6% by volume and road at under 1% by volume," the ministry said.

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