Because of the war and logistical problems, Ukraine may fail to export almost $10bn worth of agricultural products.
This was reported by the Ministry of Agrarian Policy and Food following a meeting between Deputy Minister Taras Vysotskyi and representatives of the European Business Association.
Ukraine is currently working with EU partners to ensure the unhindered transit of agricultural products to third countries and access to available logistics capacity.
The minister also discussed war-risk insurance with representatives of the association. The Agriculture Ministry said losses for civilian businesses could reach at least $2bn a year, and the traditional insurance market is not able to cover losses on this scale on its own. The ministry is therefore continuing, together with international partners, to look for effective mechanisms to support businesses.
In addition, preparations are under way for the agricultural sector’s integration into the EU and for aligning legislation with European standards.
- Over this summer alone, Russia attacked more than 50 civilian vessels, killing almost 30 people, Ukraine’s Foreign Ministry said.
- Black Sea ports account for about 90% of exports of Ukrainian grain and oilseeds, and alternative routes cannot make up for these volumes. Attacks on cargo ships have already disrupted international supplies and raised concerns among importing countries.