UKRAINE: NO REPLACEMENT FOR BLACK SEA GRAIN EXPORTS Ukraine's farm minister says there is "no real long-term substitute" for Black Sea ports for grain exports. Alternative export routes will not reach full operational capacity before the end of August and can handle only around half of Ukraine's normal export volumes. The minister said Ukrainian farmers are already facing an average 30% drop in crop prices, while losses from Russian strikes on Black Sea infrastructure could reach $1.5B–$3B. He warned the attacks threaten global food security and will drive consumer food prices higher.(*Walter Bloomberg)