“Wheat & Food Security” At Risk After Russian Missile Hits Ukrainian Grain Ship In Black Sea

“Wheat & Food Security” At Risk After Russian Missile Hits Ukrainian Grain Ship In Black Sea

Via ZeroHedge

Ukrainian President Volodymyr Zelenskiy revealed on X early Thursday that a Russian missile struck a bulk carrier hauling Ukrainian wheat while sailing through the Black Sea en route to Egypt.

Russian missile against a wheat cargo bound for Egypt. Tonight, Russia launched a strike on an ordinary civilian vessel in the Black Sea right after it left Ukrainian territorial waters. Fortunately, there were no casualties, according to preliminary reports.

Ukraine is one of the key global food securityguarantors. Domestic stability and normal life in dozens of countries around the world are dependent on the normal and unhindered operation of our food expert corridor.

Ukraine’s food deliveries to African and Middle Eastern countries are critical. We will continue to make every effort to safeguard our ports, the Black Sea, and food exports to global markets. This is Ukraine’s true priority—to protect life—and it should be the priority of all countries.

We are waiting for the world to react. Wheat and food security should never be targets for missiles.

Reuters spoke to an industry source who said the missile hit the gain vessel overnight while traversing Romanian waters near the mouth of the Danube River in the Black Sea

Dmytro Pletenchuk, a spokesman for the Ukrainian navy, stated the vessel was in Ukraine’s grain corridor during the missile strike.

“Kyiv was forced to set up a new export route in the Black Sea last year after Russia unilaterally terminated the Black Sea grain deal,” The Kyiv Independent noted,” adding, “Initially envisioned as a humanitarian corridor to allow the departure of ships stranded there since the start of the full-scale war, it has since grown into a full-blown trade route.”

Data from Ukraine’s Infrastructure Ministry shows that the Eastern European country has exported over 64 metric tons of goods to 46 countries since the temporary Black Sea corridor became operational. Of this total, 43.5 million metric tons were ag goods shipped via commercial vessels through the Black Sea maritime shipping lane over the past year.

Ukraine is known as the “breadbasket of Europe” because it’s one of the top grain exporters in the world. Its main crops include wheat, corn, soybeans, sunflower, barley, and potatoes.

Global food prices via FAO Food Price Index.

Any export disruptions could spark round two of food inflation.