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Significance
Russia's naval blockade has left millions of tonnes of grain sitting in the port, reducing global supply at a time of food crisis. Moscow blames Kyiv for the stand-off while continuing to wage a destructive war that degrades Ukraine's food production and export capacity.
Impacts
The Kremlin will interpret higher grain revenues as a sign it can act with impunity with limited consequences.
Higher Russian grain production will benefit the feed sector and potentially limit domestic price increases for meat.
Moscow has lifted import tariffs on a range of items it says are urgently needed by farmers and food processors.
Keywords:
Russia,
RUCIS,
Ukraine,
CIS,
Egypt,
EU,
Turkey,
economy,
international relations,
politics,
agriculture,
food,
foreign policy,
foreign trade,
invasion,
war,
Food Retailing,
Food & Tobacco
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2022
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