Following the release of a trading update on Friday, share dealing in processor Ukrproduct has been suspended by the London Stock Exchange. The company said it had faced “several global challenges” and stated that there had been an “acute, ongoing shortage of dairy raw materials”. “Ten out of twenty four oblasts (regions) have experienced heavy military damage which supply 42% of raw milk in Ukraine. Damaged infrastructure, and increases in fuel prices complemented with fuel shortages, have impacted transportation and adversely affected logistics costs, both on the supply and distribution side. As the Ukrainian sea ports have been blockaded by the Russian Navy, there is increased pressure on the remaining routes for export.”
This post was originally published on https://app.vespertool.com/vegetable-oil/news, written by Barry Wilson’s Dairy Industry Newsletter.