Ukraine’s losses due to the idleness of ships exceeded $1 billion

The losses incurred by Ukraine due to the idleness of ships in the queues of the grain corridor amounted to more than $1 billion. This was announced by the president of the Ukrainian Grain Association (UZA) Mykola Gorbachev.

Photo: ubr.ua 12

►Read “Ministry of Finance” on Instagram: the main news about investments and finances

Losses of Ukraine

“This is the money that Ukrainian agricultural producers did not receive. This is the money that the traders paid to the owners of the ships for the fact that the ships stood very long in the queue,” he explained.

At the moment, Russia does not accept Ukraine’s plans and conditions for forming the order of inspection of vessels, which does not allow port terminals to work rhythmically.

Although the grain corridor is a very effective channel for the supply of Ukrainian agricultural products abroad, 50% of all exported agricultural products were sent to clients through it, the president of UZA noted. The remaining 50% was exported via alternative routes: across the Danube, by rail and by road.

Read: “Grain deal”: Russia has been blocking the entry fleet to Yuzhny port for almost a month

According to Gorbachev, since the beginning of the full-scale invasion, Russia has already stolen about 4 million tons of Ukrainian grain and is trying to sell it abroad. The main buyers are countries under sanctions. But it is becoming more and more difficult to sell stolen Russian goods.

“There have already been cases when even Libya refused to buy such grain,” Gorbachev said.

Also, Russia lures buyers of Ukrainian agricultural products. As an example, Gorbachev cited Egypt, where the aggressor country increased its positions.

“Buyers who buy this grain want rhythmic deliveries. The fact is that when they buy wheat, they buy it for a mill that already has a consumer – the one who will bake bread from it. And if we do not know when this ship will arrive – in 20 or 40 days, the buyer chooses a more rhythmic and reliable supplier,” he explained.

Read: “Grain Agreement” extended for two months – Erdogan as a reminder

Since the signing of the UN-supported Black Sea Grain Initiative in Turkey on July 22, millions of tons of grain and other food products have been exported from Ukrainian ports, which helped reduce world food prices from record high levels.

During the negotiations, Russia proposed to extend the agreement for 60 days, which is half the previous term, but Ukraine rejected this proposal.

The so-called “grain agreement” was first concluded with the mediation of the UN and Turkey in July last year for a period of 120 days. She allowed to transport Ukrainian agricultural goods across the Black Sea to the world market. In November, the agreement was extended for another 120 days.

Conference “Invest Talk Summit” Find out how to make money on investments in 2023-2024! Details on the site.

Promo code for a 10% discount: minfin10.

🕵️ We created a small poll to get to know our readers better.

💛💙 Your answers will help us become the best, pay more attention to topics that are interesting to you. 🤗 We will be grateful if you find a minute to answer our questions.

Source: Ministry of Finance

Views: 27