Grain imports from Ukraine upset SEE markets

Russia’s invasion of Ukraine in February 2022 trapped approximately 20 million tonnes of grain in Ukrainian ports. Given Ukraine’s critical role both as a major producer and exporter of key agricultural products, global food supply chains faced immense pressure and food prices soared. As a result, a series of measures were taken to alleviate the impact of Russian blockages on Ukrainian grain exports. In May 2022, the European Commission (EC) launched the Solidarity Lanes Action Plan to establish alternative logistics routes. A month later, the EU lifted tariffs on imports from Ukraine for twelve months, with the moratorium being extended for an additional year in April 2023.