All eyes on the Black Sea in the face of a looming food crisis
With its Black Sea ports under blockade, Ukraine’s grain silos are brimming with millions of tons of cereals, with no way of being exported. Meanwhile, developing countries dependent on grain from Ukraine face a looming food crisis. Between January and April this year, Ukraine’s exports plunged 58% y/y in terms of volume – meaning that during the period the world was shy some 7% of its normal trade levels of cereals, 3% of sunflower oil, and 2.2% of ferrous metals. And since then, the shortage has only grown.
What you will learn:
-
While Ukraine’s agricultural output may not be seeing any shortage of stock – in fact, it had a bumper harvest in 2021 – metals output contracted by 60% in H1, half of which might be permanent due to the Russian occupation Mariupol and the destruction of its two large metal works.
-
Turkey’s effort to mediate a deal that would see Russia lifting the blockade of Ukraine’s seaports in the Odesa region could be significant.
-
But we doubt the deal can succeed in its current form.
Tags:
Related posts

Post
Queensland Government lock in Olympic venue plans in Australia
Following last October's election, a second review into 2032 Brisbane Olympics venues was undertaken. The Crisafulli government has now revealed a third and hopefully final venues plan, under which total direct investment should eclipse $10 billion, including related developments (e.g. athletes villages).
Find Out More
Post
Liberation Day’ tariffs will slow construction rebound
The US will impose a minimum 10% tariff on all trading partners from April 5. Several economies will face larger tariffs from April 9 - some as high as 49%. Some products including steel and aluminium will remain subject to their own fixed tariffs.
Find Out More
Post
Australia’s Construction Outlook: Market capacity challenges to continue
Although growth has slowed, rising construction work this decade requires a laser-like focus on improving productivity and skills accumulation
Find Out More