This year’s harvest in Ukraine expected at 65% of last year’s

“There is no free food in the world. If Ukraine doesn’t export something to our traditional markets, food will not physically appear in those territories. Grain prices will simply rise there,” the economist said.

According to the economist, Russia is also destroying Ukraine’s grain reserves.

“In parallel with disrupting grain exports, Russia is resorting to shelling silos, warehouses with chemical fertilizers, huge fuel and lubricant reserves. They are doing everything to make Ukraine lose its capacities as an agrarian state. Ukraine and Russia compete in the same food markets around the world,” Pendzyn added.

The economist recalls UN data, suggesting that the war in Ukraine and the blockade of Ukrainian seaports could lead to starvation for 1.7 billion people worldwide.

“That’s because rising food prices will lead to rising world prices. Many will lose the financial opportunity to retain access to food,” said the expert.