Ukrainian grain market giant reveals scale of losses during full-scale Russian invasion

14 December 2022, 06:49 PM
During the war, Nibulon's exports fell 2.6 times (Photo:Press service of the Nibulon company)

During the war, Nibulon's exports fell 2.6 times (Photo:Press service of the Nibulon company)

Nibulon, one of the largest grain market operators in Ukraine, exported more grain in the first two months of 2022 than over the next nine months of Russia’s full-scale invasion and war, the press service of the enterprise reported on Dec. 13. 

According to Nibulon, from Jan. 1 to Nov. 15, 2022, the agricultural giant exported 1.7 million tons of grain, but only 751,800 tons of them were exported in the period from March to November of this year, which was 164% less than in March-November 2021.

"This reduction was caused by wartime disruptions to Nibulon’s usual export routes, including blockades in the Black Sea and Dnipro River," Nibulon explained.

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At the same time, the company increased its share of total grain exports from Ukraine.

"In January 2022, Nibilon exported over 345,000 tons of grain, just over 6% of Ukraine’s total monthly grain exports,” the statement reads.

“As of Nov. 15, 2022, the company accounted for 6.3% of Ukraine’s total grain exports for the first half of the month.”

Nibulon added that the company made maximum use of available non-Black Sea export channels, including changing routes to road and rail. In the period from May to November, Nibulon delivered more than 50,000 tons of grain to Poland, Hungary, and Romania by rail and 160,000 tons to Romania by barge.

"In December, newly built grain export facilities in Izmail are expected to become fully operational, opening further opportunities to increase exports and reduce reliance on the UN Black Sea Grain Initiative, which has suffered from inefficiencies and uncertainty," the company added.

Earlier it was reported that direct losses of the Ukrainian agricultural sector due to hostilities amounted to $6.6 billion, while indirect losses are estimated at $34.25 billion.

Nibulon was founded in 1991. Before the Russian armed invasion, the grain trader had 27 transshipment terminals and complexes for receiving agricultural crops, capacities for one-time storage of 2.25 million tons of agricultural products, as well as a fleet of 83 vessels (including 23 tugs). Before the war, Nibulon cultivated 82,000 hectares of land in 12 oblasts of Ukraine and exported agricultural products to more than 70 countries.

In 2021, the grain trader exported a record 5.64 million tons of agricultural products.

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