Australia's Graincorp says Black Sea disruption could last for years

Disruptive hostilities have destroyed key infrastructure
calendar icon 11 May 2022
clock icon 1 minute read

Australia's Graincorp, the country's top grain handler, said disruptions to exports from the Black Sea because of the Ukraine conflict could potentially last several years, reported Reuters.

"Whilst it's very difficult to predict exactly what's going to happen in the Black Sea, it's certainly our view that it's going to be disrupted for a significant period of time," Graincorp managing director Robert Spurway said.

"It could run to several years, given the very disruptive hostilities on the ground in Ukraine, the infrastructure in that country that's been damaged."

Ukraine and Russia together account for about 30% of the world's wheat trade.

Spurway was speaking to analysts after the company reported a record half-year result and said it was on track for a "an exceptional result" for the full year.

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