Agriculture Minister: Ukraine to lose $30bn due to port blockade

Agriculture Minister: Ukraine to lose $30bn due to port blockade
Agriculture Minister: Ukraine to lose $30bn due to port blockade

Threat of a $30bn loss

Minister of Agrarian Policy and Food Taras Vysotsky stated that Ukraine risks losing a significant portion of its export potential in the current marketing year due to restricted access to deep-water Black Sea ports.

According to the head of the ministry, if the deep-water terminals do not resume operations, the country will be able to ship only about half of the produce grown for export to foreign markets. As a result, the volume of unexported agricultural products could reach 30 million tonnes, equivalent to approximately $30bn.

Limited capacity of alternative routes

Vysotsky emphasised that the currently operating alternative routes are already functioning at the limit of their technical capabilities. Although export volumes were increased in September, land and Danube transport corridors are unable to fully replace the lost potential of the deep-water ports.

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