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Ukraine Sees Slow Return of Grain Exports as World Watches

  • First ship since invasion set sail with corn from Odesa Monday
  • Obstacles to ramping up exports include insurance, crew
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Ukrainian Infrastructure Minister Oleksandr Kubrakov speaks on “Bloomberg Markets: European Close.”
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Ukraine laid out plans to cautiously ramp up grain exports, as the first shipment since Russia’s invasion was hailed as an encouraging early step toward unblocking millions of tons of crops and easing global food prices.

The first two weeks will be treated as a trial period, with no more than three vessels a day in each direction through new safe-passage corridors established under the agreement with Russia, Turkey and the United Nations, Ukraine Infrastructure Minister Oleksandr Kubrakov told Bloomberg TV on Monday. If successful, exports could increase to as much as three million tons per month in four to six weeks’ time, he said.