Saudi Grain Giant Shifts Away From Black Sea as War Roils Supply
10 Articles
10 Articles
Wheat exports from the Black Sea are being disrupted on importing Arab countries, with high prices, freight costs and a decline in alternative crops, which puts Governments on a greater import and support bill.
Owing to delays in ships in the Black Sea and attacks on port infrastructure, some Asian buyers are moving towards alternative supplies of wheat.
In recent days, Asian buyers have dramatically increased their purchases of wheat from Australia and Argentina due to delays in deliveries from the Black Sea. Buyers have had to pay much more for alternative shipments to meet domestic demand quickly. Reuters reported this. At least 500,000 tons of grain have already been purchased as part of new transactions. Importers are seeking replacements from the Black Sea, which are delayed by attacks on …
Up to 25% more expensive barley due to turbulence in the Black Sea.
Russia and Ukraine account for one-third of global wheat exports. Both countries are now facing a serious problem with grain exports, as attacks on Black Sea ports have significantly limited transshipment capacity. The market is already reacting – wheat contracts are approximately 30% more expensive than a year ago. Wheat prices rise after port attacks In July and August, attacks on port infrastructure and ships in the Black Sea damaged termina…
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