Exports of grains from Ukraine have slowed due to the approaching term of the “grain agreement”.
The pace of grain deliveries from Ukraine has slowed amid growing concerns that ships will be stuck if the “grain deal” is not renewed this month. Reuters writes about it.
According to the agreement, Ukraine can export about 29.5 million tons of agricultural products, including 14.9 million tons of corn and 8.1 million tons of wheat.
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“However, the number of ships arriving to pick up cargo decreased this week to two ships a day from 3-4 ships on average in the previous three weeks,” the article said.
According to journalists, the Danish shipping group NORDEN, which is engaged in the transportation of grains, is among the companies that do not send ships to Ukraine for fear of being stuck there.
“At the moment we are not involved in this trade… It is a dangerous area – it is very difficult to predict what will happen,” said NORDEN CEO Jan Rindbo.
It takes at least nine days to ship the grain, which includes the necessary checks.
An analysis by maritime and commodity data platform Shipfix showed that the number of cargo orders – global requests for affordable vessels to transport grain from Ukraine – fell to 355 in April from 489 orders sent to market in March.
According to Shipfix, there are now 107 forward grain orders for ships on the market, 94 of them for May and only a few orders for the following months.
From 40 to 60 commercial vessels are stuck in Ukrainian ports.
Recall that in March, Ukraine announced the extension of the grain initiative for 120 days, and Russia for 60. According to Moscow, the agreement will expire on May 18.
In Turkey, they announced the danger for the grain deal. Russia has an extensive list of requirements to extend the grain deal, starting with reconnecting Rosselkhozbank to the SWIFT system.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.