Ukraine has suspended the work of a new grain corridor due to a threat from russian military aircraft. This is stated in the message of the Barva Invest consulting company.
"On the evening of October 25, Ukrainian Sea Ports Authority (USPA) published a notice that the movement of vessels to and from the corridor will be suspended from October 26, 2023," it says.
Barva Invest noted that such a de facto suspension has been in effect for the past two days due to the decision of the military, who cited the "explosive threat" that arose as a result of increased russian aviation activity.
Previously, the ban will be effective on October 26.
"The current ban applies to October 26, but it is possible that it will be extended," Barva Invest added.
The message also informs about the possible consequences of the suspension of the grain corridor.
"These unexpected restrictions mean vessel downtime. We expect a negative business reaction to the lack of predictability. Those market participants who are currently paying money for downtime from their own pockets, in their further activity in Ukraine, will lay these risks and transfer additional costs down the logistics chain. As always, as a result, the producer will feel it at the level of the purchase price," Barva Invest emphasizes.
As Ukrainian News Agency earlier reported, Nataliya Humeniuk, head of the Joint Coordination Center of the Operational Command South, said that the aggressor state, the russian federation, has activated tactical aviation in the area of the maritime trade route over the Black Sea.
The Ukrainian Grain Association is concerned about the reports of grain market participants about the unjustified delay of ships loaded with grain for export in the ports of Great Odesa.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.