On the Importance of the Grain Initiative
|Before the full-scale war, 90% of the products we trade were shipped to Africa and Asia. If the corridor is closed during the active purchasing season, there will be a famine,” says Dmytro Minov, CEO of Risoil Ukraine.
Risoil Ukraine, our trading company, has not suspended its work for a single day. As of the 24 of February, the team had a huge open / naked position in all the commodity categories and projects started with investment.
The Company then had to quickly switch to new customers using the Danube to this effect and started exporting to Bulgaria and Romania with trucks and barges for further handling and sale. It was a formidable task, indeed: new supply locations, working conditions, contracting parties, speculative logistics of domestic and foreign operators, etc.
The launch in August and the subsequent implementation of the Initiative on the Safe Transportation of Grain and Foodstuffs proved its critical importance to us and to food security around the world.
The GDP of this country and dozens of branches of the Ukrainian economy depend directly or indirectly on the efficient operation of agricultural exports. Dmytro Minov reminds that the grain corridor also balances the situation on the freight market, which allows Ukrainian farmers to earn more, thus giving a hope for the future sowing campaign.
So the situation may change, but we know that it is a matter of a fairly short time before the Group’s plans come to fruition, as well as Ukraine’s victory.