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Bucharest is set to host the EuroGrainExchange 2024, an esteemed gathering dedicated to fostering growth and innovation in the grain industry across Central and Eastern Europe.

Ukraine, currently facing conflict with Russia, has lodged a complaint with the World Trade Organization against Poland, Hungary, and Slovakia over their grain export bans.

It can be said that the challenges in the Black Sea grain trade have reached their peak.

International Grains Council (IGC) has shared its first 2022/23 supply and demand projections for all commodities. Noting the projections are especially tentative given the conflict in the Black Sea region, IGC cut total global grain production by 12 million tons, trade by 9 million tons and carryover stocks by 26 million tons from its 2021/22 forecast.

The Russian offensive into Ukraine has increased the supply risk for grain markets. Ukraine stopped activities in its ports after Russia launched a military operation. Russia has also suspended the movement of commercial ships in the Sea of Azov until further notice. Prices for grains rose amid concern that the conflict could hit exports from the Black Sea to world markets.

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