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War Forces Grain and Oil to Travel Record Distances, UN Says
Buyers are shipping grains and oil from further and further away after Russia’s invasion of Ukraine disrupted traditional trade routes. Shipments of grain traveled longer distances in 2023 than any other year on record as importers switched to buy from other countries after Ukraine’s exports were blocked, according to a review of maritime transport from the United Nations Conference on Trade and Development, or UNCTAD. Oil cargoes also traveled the furthest since at least 1999, as Russia looked for new export markets. Russia is the world’s top wheat shipper and a major supplier of oil, while Ukraine is also a ... (full story)