Ukraine could lose up to $3B in agricultural sector due to Russian attacks on ports – Vysotskyi

Ukrainian Agriculture and Food Minister Taras Vysotskyi revealed that the country could suffer economic losses of up to $3 billion due to Russian attacks on its ports, according to Ukrinform. The minister emphasized that approximately 90% of Ukraine's grain and oilseed crops are exported via Black Sea ports, making these maritime routes vital for the nation's agricultural exports.

However, alternative transportation methods such as rail, road, and Danube transport could only cover around 50% of the required export volumes even in the best-case scenario. This limitation would impose an additional EUR 50-70 cost per tonne of produce, potentially leading to a loss of $1.5 billion to $3 billion for Ukraine's agricultural sector, Vysotskyi stated.

The Agriculture Ministry predicts a storage capacity shortfall of 11 million tonnes as early as autumn, prompting efforts to find temporary storage solutions, including the use of grain bags. The ministry is also developing affordable lending mechanisms to mitigate these risks. During a meeting with Spanish Ambassador Ricardo Lopez-Aranda Jagu, the parties discussed enhancing cooperation between Ukraine and Spain in the agricultural sector, supporting alternative logistics routes, and seeking international assistance to counter Russian aggression's consequences.

The Spanish ambassador reiterated Spain's unwavering support for Ukraine and expressed readiness to consider additional assistance, particularly in developing alternative logistics, supporting exports, and implementing joint projects to bolster food security. In July 2026, Ukraine exported 3.67 million tonnes of agricultural products, a 23.4% decrease from the previous month.

To aid producers and maintain stable foreign-currency inflows, the Cabinet of Ministers revised the procedure for setting minimum allowable export prices for grain and oilseed crops in August.