Crimea Annexation Won’t Affect Exports

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(Dow Jones) — The annexation of the Crimean peninsula is unlikely to have a negative impact on the export of grain by Ukraine, the agriculture ministry said Wednesday.

 

On Tuesday, Russian President Vladimir Putin ordered the approval of a draft agreement on Russia's annexation of Crimea.

 

But the ministry said ports on the mainland would easily compensate for the loss in throughput capacity caused by the annexation. Grain exports via the Crimea accounted for only about 7{75f28365482020b1dc6796c337e8ca3e58b9dd590dc88a265b514ff5f3f56c30} of Ukraine's total grain export, the ministry said.

 

The country's mainland ports–Odessa, Ilyichevsk and Nikolaev–are currently handling on average 94,000-95,000 metric tons of export grain a day, nearly twice the pace of last year. Their capacity will easily allow for an increase of 7{75f28365482020b1dc6796c337e8ca3e58b9dd590dc88a265b514ff5f3f56c30}, according to the agriculture ministry.

 

The ministry said Ukraine exported 25.66 million tons of grain between the beginning of the current marketing year and March 14, 37.5{75f28365482020b1dc6796c337e8ca3e58b9dd590dc88a265b514ff5f3f56c30} more than in the corresponding period in the previous marketing year.

 

Source:  Dow Jones

Posted by Haylie Shipp

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