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After months of mediation by the United Nations and Turkey, Russia and Ukraine finally signed an agreement on the 22nd, agreeing to reopen three ports in the Black Sea, allowing Ukrainian grains urgently needed in the global market to be export.
Beijing's "Global Times" reported that less than 24 hours after Russia and Ukraine signed an agreement to restore grain transportation to the Black Sea port, the port of Odessa, Ukraine's main export gateway for grain, was allegedly attacked sudden.
Russia later said the attack targeted "military infrastructu.
" The Ukrainian Public Broadcasting Corporation reported that the Russian missiles did not cause major damage, the terminal loading and unloading capacity of the port of Odessa was not affected, and grain exports could contin.
Russia later said the attack targeted "military infrastructu.
" The Ukrainian Public Broadcasting Corporation reported that the Russian missiles did not cause major damage, the terminal loading and unloading capacity of the port of Odessa was not affected, and grain exports could contin.
Immediately after the agreement was signed, international wheat prices plummeted, falling back to pre-Russian-Ukrainian leve.
Under normal circumstances, 75% of Ukraine's grain production is exported, generating about 20% of the country's export revenue each year, according to a statement on the EU's official websi.
Ukrainian grain exports are highly dependent on shipping, with grain and oilseed exports from Ukraine’s Black Sea ports accounting for 90% of total exports before the confli.
About a third of exports go to Europe, China and Afri.
Under normal circumstances, 75% of Ukraine's grain production is exported, generating about 20% of the country's export revenue each year, according to a statement on the EU's official websi.
Ukrainian grain exports are highly dependent on shipping, with grain and oilseed exports from Ukraine’s Black Sea ports accounting for 90% of total exports before the confli.
About a third of exports go to Europe, China and Afri.
Ukrainian President Volodymyr Zelensky said on the 22nd local time that after the signing of the agreement, Ukraine will be able to export about 20 million tons of grains harvested last ye.
Ukrainian grain stocks are now worth about $10 billi.
Ukrainian grain stocks are now worth about $10 billi.
Singapore's "Lianhe Zaobao" reported that the shipping industry and grain traders welcomed this, but also reminded that there are many obstacles that must be solved, including how to ensure the safety of crew and ships, and provide adequate and affordable insurance for grain transportati.
In addition, the ships and crews required to transport these agricultural products cannot be assembled overnig.
In addition, the ships and crews required to transport these agricultural products cannot be assembled overnig.
Analysts estimate that it will be several weeks before Black Sea shipping is expected to resu.
The British "Guardian" reported that before the resumption of navigation in the Black Sea, the waters off the coast of Ukraine must first be demined, and at least a waterway that stretches for several kilometers must be clear.
As for how long the job will take, estimates from multiple reports in Kiev vary, ranging from 10 days to several mont.
As for how long the job will take, estimates from multiple reports in Kiev vary, ranging from 10 days to several mont.
More than 20 million metric tons of grain are currently stranded in Ukrainian warehouses, and 400 bulk carriers are needed to get them all o.
Such ships must have the ability to travel across continents and must have units specially designed for the transport of agricultural products, capable of carrying up to 50,000 metric tons of gra.
Such ships must have the ability to travel across continents and must have units specially designed for the transport of agricultural products, capable of carrying up to 50,000 metric tons of gra.
Shipping analysts estimate that it will take several weeks for ships to be diverted to the Black Sea, depending on the availability of ships in nearby areas such as the Mediterrane.
Ukraine's next harvest season is about to begin, and the International Grains Council noted that Ukraine must ship 7 million metric tons of grain each month over the next three months to ensure there is enough space in granaries to store new gra.
Karavaitsev, a senior economist at the council, said: “It can be a very big challenge to ship 5 million metric tons in the first month after the resumption of saili.
We believe that even if the port does reopen, additional Storage space is like building new sil.
”
We believe that even if the port does reopen, additional Storage space is like building new sil.
”
