The Ukraine war has boosted the cost of transporting dry bulk such as grains by nearly 60 percent, stifling trade and shipping in the Black Sea region, an updated United Nations report said.
The increase in grain prices and freight rates has led to a near four percent increase in consumer food prices globally, with almost half the impact coming from higher shipping costs, according to the UN Conference on Trade & Development (UNCTAD).
The rising costs are being watched carefully by feed manufacturers, aquaculture producers and their customers, all of whom are impacted by soaring feed input costs.
