Due to the missile attack of the Russian Federation, the prices of agricultural products will increase significantly

As a result of the terrorist attack of the Russian Federation, world prices for corn and wheat may increase by 40%.

Immediately after Russia’s withdrawal from the Grain Agreement, the Russian Federation began to carry out massive missile attacks on Ukrainian ports. In particular, on the night of July 19, the grain storage and transshipment facilities of the Kernel agricultural holding in the port of Chornomorsk were significantly damaged by the Russian attack.

The company is currently assessing material damages. According to preliminary data, it will take at least 12 months to restore the destruction, the Kernel press service reported.

Missile attacks on Ukrainian ports will lead to a 30-40% increase in corn and wheat prices in the short term. There is also a risk of stopping the work of a number of Ukrainian oilseed processing plants. At the same time, the rate of sunflower and rape seed processing will drop by more than 30%. Therefore, world prices for sunflower oil will increase by another 20-25%, the company noted.

In total, the raiders disabled about 40% of the grain export infrastructure of the Black Sea port.