Ukrainian food exports on a decline due to crisis in Red Sea – Minister of Agrarian Policy and Food

The pace of exports of Ukrainian agricultural products in January decreased by 20% due to the New Year holidays and the crisis in the Red Sea.

Source: Mykola Solskyi, Minister of Agrarian Policy and Food on air of the national joint 24/7 newscast

"The pace has slightly decreased. We associate this with objective reasons: coincidences related to the new year... the second point is issues in the Red Sea," the minister said.

Solsky explained that some of Ukraine's agricultural exports went through the Red Sea and went to China and other Asian countries, and East Africa. 

Due to the movement of ships slowing down and other factors, the volume of agricultural products leaving their posts decreased by 20%.

"This is not significant, but still large volumes," Solskyi said.

Background: UK oil company Shell has suspended all shipments through the Red Sea for an indefinite period after US and UK strikes on Yemen’s Houthi rebels raised fears of further escalation.

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