Russia and Ukraine Trade Strikes on Grain Hubs, Sparking Fears of Higher Food Prices

Kyiv and Moscow exchanged attacks on each other’s grain storage sites this week, raising concerns that global food prices could climb. Russia struck Ukraine’s largest grain shipment port on the Danube River overnight, causing damage and starting a fire. The assault followed a Ukrainian strike on Novorossiysk, a major grain hub on Russia’s Black Sea coast. Both ports are critical for exporting grain to world markets. Damage to these facilities may disrupt supply chains and push up costs for basic foods.