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. 

“I am grateful to our contracting parties who have proven themselves to be decent and professional partners. Not least of all, such interaction enabled us to get through this difficult phase,” pointed out Dmytro Minov. 

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.  

“We raised additional funding to support the works and added a trade in oilseeds aimed at Europe, which allowed us to smooth over, at some points, the negative financial impact of the sale of the pre-war stocks of goods,” said the CEO of Risoil Ukraine. 

  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.  

 “If a direct offer from our country to the African and Asian countries is not sufficient, there will be a surge in prices for grain. To prevent it and to thwart a famine there, the grain corridor must continue to operate without any interruptions,” says Dmytro Minov. 

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.