The decision by Russia to terminate the initiative will strike a blow to people in need everywhere. UN would not stop efforts to get food products and fertilisers from both Ukraine and Russia to international markets: António Guterres, United Nations
The movement of ships through the Black Sea Initiative and its impact in getting food to those who need it most as well as stabilising world food prices is proof that shipping must always continue to move: Kitack Lim, IMO
With the safe passage through Black Sea gone, we expect a contraction in exports. Additionally, the harvest area in the marketing year 2023-24 is as much as 16% lower than last year. Therefore, Drewry estimates a reduction of 2-5% YoY in exports in calendar year 2023: Tanvi Sharma, Drewry
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