Major grain importers in the Middle East and North Africa have reacted calmly to the end of the safe shipping corridor for Ukraine’s exports through the Black Sea this week, European commodity traders said. “There has not been panic buying by importers this time around on the scale as we saw last year when prices skyrocketed after the Russian invasion of Ukraine,” one European grain trader said. Traders say they have not seen the huge rise in buying this week by importers as seen in early 2022. Usually, international grains import demand is shown by new purchase tenders issued to grain traders by importers. “There are estimates Ukraine can export well over 1 million (metric) tons of grains a month on the EU routes,” another trader said.

Source: The North Africa Journal July 23, 2023 21:57 UTC