Russian attacks on Ukraine’s largest seaport have hit Kyiv’s grain exports.
Four consecutive days of drone strikes on commercial vessels and the Odesa port’s storage facilities have caused some traders and shipowners to pause activities in the area, while Kyiv said 11 port workers and sailors have been killed.
Russia’s grain exports are down as well, owing to fuel shortages and Ukrainian strikes. The two countries together account for a third of global wheat supplies and the disruption saw futures hit a two-year high on Thursday, the Financial Times reported.
Global food supplies are already under pressure after the Iran war disrupted fertilizer exports: The UN’s agriculture arm warned of lower yields this year and into next.