Ukraine: How the emergency at Kakhovskaya HPP will affect the cost of food

Prices for wheat and corn rose after the destruction of the Kakhovskaya hydroelectric power station. On Tuesday, June 6, July futures for wheat grew by almost 4%, for corn at the moment rose by 2%. According to Bloomberg, bidders fear a shortage of grain supplies. In the short term, damage to granaries in the lower reaches of the Dnieper is also possible. The Ukrainian authorities do predict the transformation of coastal areas into a desert as early as next year. According to them, 94% of irrigation systems in the Kherson region, 74% in Zaporozhye and about a third in the Dnepropetrovsk region are currently left without a source of water. Prices for agricultural products on the world market will continue to grow, Kristina Romanovskaya, general director of the Lazarevskoye breeding farm, is sure. However, for Russia, the consequences will not be so serious, she said: “It will affect prices the most, and there may be a risk of shortages. As for Russia, I think there will definitely ...