Russia suspends Black Sea grain deal in blow to global food security
to countries in Africa, the Middle East and Asia where hunger is a growing threat and high food prices have pushed more people into poverty.Grain Initiative until its demands to get its own agricultural shipments to the world are met _ even though the country has been shipping record amounts of wheat and its fertilizers also have been flowing.
The warring nations are both major global suppliers of wheat, barley, sunflower oil and other affordable food products that developing nations rely on. While analysts don’t expect more than a temporary bump to food commodity prices because places like Russia and Brazil have ratcheted up wheat and corn exports, food insecurity is growing.The agreement was renewed for 60 days in May amid Moscow’s pushback.
“The Black Sea deal is absolutely critical for the food security of a number of countries,” and its loss will compound the problems for those facing high debt levels and climate fallout, said Simon Evenett, professor of international trade and economic development at the University of St. Gallen in Switzerland.
But the deal has faced setbacks since it was brokered by the U.N. and Turkey: Russia pulled out briefly in November before rejoining and extending the deal. Asked Monday whether an attack on a bridge connecting the Crimean Peninsula to Russia was a factor behind the decision on the grain deal, the Kremlin spokesman said it was not.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Last ship leaves Ukraine port ahead of Black Sea grain deal deadlineRussia has not agreed to extend deal allowing Ukrainian grain exports as deal is set to expire on Monday
Read more »
Canadian government drops education requirement for Hong Kong immigrants - National | Globalnews.caOttawa announced on Tuesday it would remove all educational requirements for people with at least a year of work experience in Canada starting August 15.
Read more »