ONE of Ukraine's biggest food exporters, Astarta Holding, is so broke that he is now using barter after Russia's invasion cut off access to ports and left warehouses and equipment destroyed, reports Bloomberg.
In response, Astarta CEO Viktor Ivanchy now barters fodder to meat processors in return for products it can trade to workers and landowners that lease fields to growers.
'The flow of cash for supplied products has stopped; even purchased grain was not paid for,' said Mr Ivanchyk. 'There were quite big delays because many multinational traders evacuated their staff and payments stopped.'
So far, the company has distributed more than 600 tons of food for free to people in need.
Banks aren't providing enough credit, and international financial institutions need to provide assistance faster so farmers have inputs for spring sowing, he said. Astarta typically plants on 220,000 hectares (544,000 acres), though some of that land is now unreachable or laden with downed jets, missiles and drones, he said.
ukraine is the second-biggest shipper of grains and biggest exporter of sunflower oil, but the conflict is inflicting heavy damage on growers, their distribution networks and shipping ports. The agriculture sector, considered Europe's breadbasket, has pivoted from feeding the world to feeding the nation.
SeaNews Turkey
In response, Astarta CEO Viktor Ivanchy now barters fodder to meat processors in return for products it can trade to workers and landowners that lease fields to growers.
'The flow of cash for supplied products has stopped; even purchased grain was not paid for,' said Mr Ivanchyk. 'There were quite big delays because many multinational traders evacuated their staff and payments stopped.'
So far, the company has distributed more than 600 tons of food for free to people in need.
Banks aren't providing enough credit, and international financial institutions need to provide assistance faster so farmers have inputs for spring sowing, he said. Astarta typically plants on 220,000 hectares (544,000 acres), though some of that land is now unreachable or laden with downed jets, missiles and drones, he said.
ukraine is the second-biggest shipper of grains and biggest exporter of sunflower oil, but the conflict is inflicting heavy damage on growers, their distribution networks and shipping ports. The agriculture sector, considered Europe's breadbasket, has pivoted from feeding the world to feeding the nation.
SeaNews Turkey