Food Crisis: Relief In Sight As Russia, Ukraine Sign Landmark Deals On Grain Exports
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Food Crisis: Relief In Sight As Russia, Ukraine Sign Landmark Deals On Grain Exports

Russia and Ukraine

Russia and Ukraine signed separate agreements with Turkey and the United Nations to enable the export of millions of tons of grains needed across the world.

The agreement was reached on Friday, according to The Washington Post.

The deal hopes to restart grain exports from Ukraine’s Black Sea ports that have been blocked since Russia’s invasion and ease the ravaging global food crisis.

Sergei Shoigu, Russian defence minister and Oleksandr Kubrakov, Ukrainian infrastructure minister, signed separate deals with Antonio Guterres, UN secretary-general and Hulusi Akar, the Turkish defence minister.

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The ceremony was witnessed by Turkish President Recep Tayyip Erdogan.

It would be recalled that following the Russian invasion of Ukraine, the Food and Agriculture Organization (FAO) as well as other observers of the food commodities markets, warned of a collapse in food supply and price increases.

Much of the concern is related to supply shortages of key commodity crops, such as wheat, corn, and oil seeds, which could cause price increases.

The invasion also led to fuel and associated fertilizer price increases, causing further food shortfalls and price increases.

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