SEOUL, SOUTH KOREA — South Korean grain trader POSCO International Corp. on June 2 announced it has partially resumed operation at its grain terminal in the port city of Mykolaiv, Ukraine.
The company said it has shipped approximately 2,000 tonnes of wheat through land routes such as Izov, Vadul-Siret and Uzhgorod, while ship routes remained closed due to the blockade of the Black Sea port. POSCO said its terminal currently holds 115,000 tonnes of grains, including wheat, corn and barley.
“This decision was made at the request of customers who were concerned about the collapse of the supply chain of Ukrainian grains,” POSCO said.
The terminal was built in 2019, and POSCO said it had exported about 2.5 million tonnes of grains through the terminal to countries in Europe, North Africa and the Middle East before operations were suspended in February.
POSCO has set a goal of increasing grain handling volume to 25 million tonnes and sales to 10 trillion won by 2030 by expanding its food business.
The company said it plans to establish a stable grain procurement system by developing businesses in other countries of origin, including North and South America. POSCO also said it plans to promote collaboration with ag-tech companies in response to changes in trends in the agriculture sector.
“The importance of food security is being emphasized due to the global supply chain crisis, and the new government is also suggesting ‘Securing food sovereignty’ as a national task,” POSCO said. “It is a time when public-private partnerships such as joint investment and joint investment are urgently needed.”