The war in Ukraine looks set to disrupt grain production for possibly “a number of years” to come, says GrainCorp CEO Robert Spurway.
“Ukraine produces about 80 million tonnes a year of grain, it represents about a third of the global market for traded grain, so it’s really important in feeding the world,” Mr Spurway said.
“That’s clearly been disrupted, right at the moment they’re coming out of the winter there so it’s a bit unknown what’s going to happen with the upcoming crop.
“But it’s fair to say it’s going to be disrupted for the next year and possibly a number of years, with infrastructure in the country damaged, ports closed – aside from just the risk of doing business there.
“It’s very clear that grain production isn’t going to be available for the export markets anytime soon.”