Black Sea disruptions push global grain prices to multi-year highs
Grain prices jumped to near three-year highs as Russia and Ukraine’s strikes on Black Sea ports and shipping disrupt exports, threatening a large global supply shortfall (up to about 86 million tonnes, ~17% of world cereal exports). Ukraine’s exports are down about 75% year-on-year this month, with Russia’s also slipping; alternative routes via rail and the Danube can only partly compensate. Analysts warn global food prices could rise around 11.8% this year and 4.8% in 2027, and some say the market underprices sustained disruption.
