Wheat prices rise after Kakhovka dam explosion.

Wheat prices rose by 3% after the explosion of the Kakhovka dam in southern Ukraine on June 6, according[1] to the market data tracking service Barchart Trader. The price is now at £6,4 per bushel. "Wheat went up by 3% - that is how the markets reacted to the destruction of the Kakhovka Hydroelectric Power Plant," said Oleh Nivievskyi, associate professor at the Kyiv School of Economics.

Nivievskyi wrote on Telegram that markets are expecting[2] an "escalation." Ukraine's Southern Operational Command reported[3] early in the morning that Russian forces blew up the Kakhovka dam, causing massive flooding of villages and towns downstream of the Dnipro River. Evacuation of civilians is underway[4], with 1,300 people transported by 3 p.m. local time.

Many areas can lose access to their main water supply as a result of the disaster, threatening[5] local agricultural production. Some experts believe that vegetable growers in the affected region may lose 20,000 hectares of productive land. Ukraine is one of the leading agricultural producers and exporters in the world, as its grain feeds a number of countries in Africa and the Middle East.

What are the consequences of the Kakhovka dam's demolition?

The destruction of the Kakhovka dam can lead to serious humanitarian, ecological, economic, military, and legal consequences. The demolition was carried out by Russian forces in southern Ukraine in the early hours of June 6. And it's among the most dramatic violations of the Geneva Conventions in...

News Editor

Martin Fornusek is a news editor at the Kyiv Independent.

He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He also volunteers as an editor and translator at the Czech-language version of Ukrainer. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.

References

1. ^ according (www.barchart.com)
2. ^ expecting (t.me)
3. ^ reported (kyivindependent.com)
4. ^ underway (kyivindependent.com)
5. ^ threatening (kyivindependent.com)
6. ^ What are the consequences of the Kakhovka dam's demolition?The destruction of the Kakhovka dam can lead to serious humanitarian, ecological, economic, military, and legal consequences.

   The demolition was carried out by Russian forces in southern Ukraine in the early hours of June 6.

   And it's among the most dramatic violations of the Geneva Conventions in... (kyivindependent.com)