Shipping grain from the Pacific Northwest to Japan cost $44.75 per metric ton as of April 21. This is an increase of more than 20% over the previous year.
Two Russian-flagged bulk carriers, the Matros Pozynich and Matros Koshka vessels, docked next to what appears to be a grain silo while a belt is transferring grain into an open cargo hold, according to the latest satellite images of the seaport of Sevastopol in the Crimea, taken by the U.S. company Maxar Technologies on May 19-21.
In addition to stealing grain, Russia has blockaded Ukrainian ports, causing 22 million tonnes of grain to become stranded in silos, putting the world food supply at risk.
Russia has continued to transport grains at the increased price, finding eager customers and earning more per ton. According to estimates from agricultural expert SovEcon, global wheat prices have risen by more than 50% this year, and the Kremlin has received $1.9 billion in wheat export duties so far this season.
Russia and Ukraine are important grains and sunflower oil producers in the globe. Ukraine is also one of the top six grain, poultry, and honey exporters in the world.
Shipping grain from the Pacific Northwest to Japan cost $44.75 per metric ton as of April 21. This is an increase of more than 20% over the previous year. Some of the rise can be attributed to higher energy expenses. According to the USDA Grain Transportation Report, when additional ships become available, pricing may reduce. Each month, around 700 dry bulk carriers are loaded in Russian and Ukrainian ports. The conflict is limiting grain exports from the Black Sea, which frees up ships for commerce in other regions of the world.
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