Russia's Exit from Grain Deal with Ukraine Could Escalate Global Food Crisis and Food Insecurity

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Written By Jennifer Joslyn

🌾 Russia's Exit from Grain Deal with Ukraine Could Escalate Global Food Crisis and Food Insecurity.

Russia's decision to withdraw from a grain export deal with Ukraine has escalated concerns about global food supplies and prices. The Black Sea grain-shipping corridor, crucial for Ukraine's crop exports to the world, has been affected, with Russia attacking Ukrainian agricultural terminals, destroying grain, and threatening vessels in the region. The US has also accused Russia of laying mines at Ukrainian grain ports. The disruption has led to soaring wheat futures prices, raising fears of global food inflation after a period of price moderation. Ukraine's crops, which are sent to countries in Africa and Asia, rely heavily on the Black Sea corridor, accounting for about half of the volumes in the past year.

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Jennifer Joslyn
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