Business news from Ukraine

FIRST CONSIGNMENT OF UKRAINIAN CORN SINCE BEGINNING OF WAR LEFT ROMANIAN CONSTANTA

29 April , 2022  

The first cargo of Ukrainian corn weighing 71,000 tons since the beginning of the Russian military invasion of Ukraine went on a P-class vessel to the recipient from the Black Sea port of Constanta (Romania), the Reuters website reported on Friday.

According to him, this port has already received about 80 thousand tons of Ukrainian grain, and the same number is on the way to it.

As Ukraine’s seaports were blocked following Russia’s aggressor country’s invasion of Ukraine in February, the world’s fourth-largest grain exporter has been forced to ship to Romania by train across its western border or through its small river ports on the Danube River.

“Supporting the export of Ukrainian grain means preventing a colossal wave of world hunger provoked by the blockade of Ukrainian ports. Compared to the initial moment, when everyone was looking for alternative transport corridors for grain exports, they are gradually being formed,” Viorel Panaita, president of Comvex port operator, who organized deliveries of a batch of Ukrainian corn.

According to Comvex, the seaport of Constanta owns the fastest-loading grain terminal in Europe, capable of handling up to 70,000 tons of crops per day.

As reported, Ukrainian and Romanian ministries at the end of March began negotiations on the export of agricultural products from Ukraine through European seaports, including the Romanian port of Constanta.

Ukraine has tens of millions of tons of agricultural products in warehouses, but due to a naval blockade by the aggressor country, the Russian Federation cannot supply it to its traditional markets.

The countries bordering Ukraine have responded to its problem with the export of agricultural products, and have already significantly simplified the procedures for registering freight traffic or are actively working on it. In particular, Romania, Slovakia, Hungary, Lithuania, Latvia, Estonia, as well as Italy, Turkey, Bulgaria, Georgia, Denmark, Greece, Austria introduced liberal conditions for Ukrainian carriers.

Before the Russian military invasion, Ukraine monthly exported about 5 million tons of agricultural products through the ports of Odessa and Nikolaev, but now, due to their naval blockade by the Russian Federation, it can transport about 500 thousand tons of grain monthly. This leads to a monthly shortfall of about $1.5 billion in export earnings for the country.