Ukraine Grain Exports Plunge 76% in Early August Amid Black Sea Attacks

Ukraine's grain exports have dropped sharply in the first half of August, with the agriculture ministry reporting just 280,000 metric tons shipped between August 1 and 12. This marks a 76% decline compared to the 1.15 million tons exported during the same period last year.

The steep fall is attributed to Russian attacks on Ukrainian Black Sea ports, export terminals, and vessels, which have effectively halted shipments since late July. The disruptions are hitting a country that relies on seaports for more than 90% of its grain exports, with agricultural products forming the largest share of Ukraine's overall exports and serving as a key source of government revenue.

Ukrainian officials and analysts have already revised their export forecasts downward for the current season, reflecting the severity of the disruptions. The ministry's figures, however, are notably higher than those from the farmers' union, which reported exports of just 123,000 tons during the first 10 days of August.

Season-to-date data from the ministry shows total grain exports at 2.952 million metric tons as of August 12, compared to 2.818 million tons by the same point last year. Wheat exports stand at 1.239 million tons (down from 1.517 million), corn at 1.376 million tons (up from 0.827 million), and barley at 0.333 million tons (down from 0.463 million).