Grain shipments from Russia in July and August – the first two months of the new season – fell by 22%.
The aggressor country Russia significantly reduced grain exports in the second half of the summer. This was reported by Bloomberg on Friday, September 2.
Grain shipments from Russia in July and August, the first two months of the new season, fell 22% to 6.3 million tons from a year ago, according to lineup data from Logistic OS.
It was indicated that food was not included in the Western sanctions, but bankers and insurers were wary of doing business with Russia, and shipping companies were wary of sending their ships to the war zone.
We have reputational risk or informal sanctions. They create problems in finding ships for the Russian Black Sea, and we see that some banks do not want to open letters of credit for wheat of Russian origin, Dmitry Rylko, general director of the IKAR Institute based in Moscow, was quoted by the agency.
Russian farmers are also reluctant to sell wheat, as a strong ruble and high export duties are less attractive.
Earlier, Russian President Vladimir Putin predicted a record grain harvest in Russia. At the same time, it is known that the Russian Federation is extensively stealing grain from the temporarily occupied territory of Ukraine.
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Source: korrespondent
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