PARIS, France– Russia has cemented its position as the world's top grain exporter with the help of a bumper harvest and cut-rate prices while its war in Ukraine has upended the market.
The corridor"didn't help Ukraine rebound in terms of their agricultural production" as the invasion deprived it of a quarter of its exploitable grain fields, said Joseph Glauber, senior research fellow at the International Food Policy Research Institute in Washington. The Black Sea disruptions have prompted Ukraine divert its grain exports through other routes including the Danube river, trucks and train.
Agriculture is now the third biggest sector in terms of trade for Russia behind fossil fuels and minerals.
Source: News Formal (newsformal.com)
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