World grain market became more dependent on supplies from Russia, Kazakhstan and Ukraine – EBRD
The world food market became more dependent on the supplies from the Black Sea region - Russia, Ukraine and Kazakhstan, which is territorially long-distanced from the sea area, but also uses the Black Sea ports to supply grains, informed analysts of the European Bank for Reconstruction and Development (EBRD).
The Bank forecasts the further shift of export activity from the countries of the OECD (Organisation for Economic Co-operation and Development - the international economic organization of developed countries, including the EU and the USA) towards Russia, Ukraine and Kazakhstan.
According to the announcement, these countries have rather significant competitive advantages and the strong position in the export trading of grains and other agricultural commodities.
The regions show active development rates. In particular, Ukraine may soon take the position of the second largest exporter of grains after the USA. Kazakhstan and Russia also increased their production volumes. The Black Sea countries continue investing in the grain sector to improve grain export indices, and create the guarantee that the political environment and economic climate in these regions to become stable, noted analysts of the EBRD.
The Bank analysts also said that the reporting three countries have the potential to supply more than half of world grain exports, thus contributing to the global food security. In particular, they will be able to completely meet the demand of countries-importers in the southern and eastern Mediterranean.
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December 5, 16:35