Ukraine sees no prospects for a ceasefire in the Black Sea in the coming months - Bloomberg
Kyiv • UNN
Ukraine sees no prospects for a ceasefire agreement in the Black Sea in the coming months. Up to 30 million tonnes of agricultural produce may not be exported.
Ukraine sees no positive signs that a ceasefire agreement covering grain exports through the Black Sea could be reached in the coming months, as strikes in the region have significantly limited the country's ability to export products vital to global supplies. Bloomberg reports this, citing a statement by Ukraine's Minister of Agrarian Policy Taras Vysotskyi, writes UNN.
Unfortunately, it is difficult to imagine any possible solutions to this issue in the coming months. We really have to prepare for the situation to remain as critical as it is now
Vysotskyi said that countries facilitating the negotiations had informed Ukraine that Russia had so far rejected all proposals from Kyiv's partners; he added that "all possible options have been tried, but no results" have yet been achieved.
As the publication notes, the intensification of strikes between Russia and Ukraine, which account for more than a quarter of global wheat supplies, has led to an increase in global grain prices at a time when European farmers are also facing the consequences of extreme weather events. The possibility of negotiations on allowing grain exports as part of a limited ceasefire or a moratorium on strikes this month helped lower prices. Turkey was one of the countries that said it was attempting to revive the grain corridor to facilitate such exports.
Vysotskyi said that Ukraine had increased export volumes via alternative routes bypassing the Black Sea. They currently handle 45% of the necessary shipments. At the same time, according to Ukraine's estimate, these routes can export a maximum of 50% of agricultural products. This means there is a risk that around 30 million tonnes of agricultural products will not be exported from the country during this marketing year.
He also noted that in August Ukraine had also asked to increase the duty-free quotas set by the EU for 2027 for bioethanol and sugar, seeking to increase exports of products needed by the bloc. If this issue is resolved without problems, the country will ask to increase quotas for other types of agricultural products as well.