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Indonesia's Comexindo ships first grain out of Ukraine since invasion
It was one of the first commercial shipments from the port since Russia’s invasion blocked shipping through the Black Sea five months ago.
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PT Comexindo International has shipped its first cargo of corn feed from the port of Odesa, Ukraine.
It was one of the first commercial shipments from the port since Russia’s invasion blocked shipping through the Black Sea five months ago.
Arsari Group and Switzerland-based Harvest Commodities SA, in a joint venture under PT Comexindo International, are set to ship 50,000 tons of the commodity to Turkey. Corn feed – a type of grain – is primarily used for livestock feed and ethanol production.
“This economic activity carried out by PT Comexindo International in Ukraine is a manifestation of President Joko [‘Jokowi’] Widodo’s leadership [...] to bring food from Russia and Ukraine to the world,” Arsari Group chair Hashim Djojohadikusumo said in a statement issued on Tuesday.
Read also: “Relief for the world” as Ukraine grain ship leaves Odesa
The shipment is intended to be the first of a series to export grain that the joint venture purchases from Russian and Ukrainian producers.
Arsari Group vice president of corporate communications Ariseno Ridhwan said PT Comexindo International was in the middle of negotiations with other interested buyers, including Saudi Arabia, Egypt, the United Arab Emirates, Bangladesh, the Philippines and Vietnam.
“It has been proven that the Razoni ship, which was also carrying grain, managed to get safely out of Ukraine. However, conditions in conflict areas cannot be ascertained,” Ariseno told The Jakarta Post on Wednesday.
Razoni was the first commercial ship to leave Ukraine’s port of Odesa since the Russian invasion in February.
The ship was bound for the port of Tripoli, Lebanon, carrying a cargo of 26,527 tons of grain, and was the first vessel to depart under the Black Sea Grain Initiative signed in Istanbul on July 22.
“I would like to congratulate the collaboration between the United States, Russia, Ukraine, Indonesia and Turkey in finding common ground to alleviate the global food shortage,” Harvest Commodities SA chair Gaurav Srivastava said in the statement.
Andrian Bagus Santoso, an economist at state-owned Bank Mandiri, said the return of Ukrainian wheat exports in recent weeks had had a noticeable impact on global wheat prices.
The average global wheat price has fallen to an average of US$8 per bushel in the past month, according to Andrian, much lower than its average high of around $11 per bushel in March to May.
“I think this is a good first step for global food security and a good result from the mediation carried out by various parties, including President Jokowi and Turkey,” he told the Post on Wednesday.
