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Euronews
Euronews
Mared Gwyn Jones

Ukraine grain crisis could cost $60 billion globally, minister warns

The blockade of Ukraine's Black Sea export routes is becoming "critical", with potentially far-reaching implications for global food prices, Ukraine's Minister for Agrarian Policy and Food, Taras Vysotskyi, has told Europe Today.

"We can already see that on average, grain prices have increased by 25 percent," Minister Vysotskyi said. "If you multiply it by the overall grain and food consumption out of grain, within a year, it could mean up to $60 billion in additional costs (for) consumers throughout the world."

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