Grain prices rise after explosion on Kakhovka Hydroelectric Power Plant
Wheat prices reacted to the blowing up of the Kakhovka Hydroelectric Power Plant (HPP), and as of the morning of 6 June, showed an increase of 3%.
Source: The data of Barchart Trader, which tracks market data in real time.
Wheat currently costs about US$6.4 per bushel.
"Wheat went up by 3% – this is how the market reacted to the blowing up of the Kakhovka Hydroelectric Power Plant," commented Oleh Nivievskyi, vice president for Economic Education and associate professor at the Kyiv School of Economics.
According to the expert, markets are now in a state where they expect an escalation.
Read also: Flooded South: the consequences of blowing up the Kakhovka dam (in brief)
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Background:
On the morning of 6 June, Ukraine’s Operational Command Pivden (South) reported that Russian occupation forces had blown up the Kakhovka Hydroelectric Power Plant (HPP).
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