Restoring the grain initiative will help reduce prices and improve access to agricultural products for a number of countries.
Restoring the grain agreement is critical to getting out of the global food crisis. Maximo Torero, Chief Economist of the Food and Agriculture Organization of the United Nations (FAO), said this in an interview with Ukrinform published the previous day.
The continuation of the grain initiative will help lower international prices and improve access to agricultural products for a number of low-income and low-income countries, he said.
“Many of these countries are in a difficult macroeconomic situation, facing high levels of debt, and rising import costs and economic instability significantly impair their ability to support their populations ,” Torero said.
According to him, countries like Kenya or Bangladesh, which currently have serious food shortage problems, have already received support from the grain deal in the form of an adequate supply of wheat.
Torero noted that the continuation of the work of the grain agreement will prevent a sharp decrease in agricultural production in Ukraine, due to the important role of our country in the supply of oilseeds and grains to the world market.
The suspension of the grain initiative, in addition to the war, creates a challenge for domestic producers due to the high logistical costs of exporting through alternative routes.
As you know, on July 17, Russia announced its withdrawal from the grain deal, which was valid for one year and allowed Ukrainian food to be exported from Black Sea ports. In total, more than 32 million tons of agricultural products were exported.
Today, almost every night Russian invaders are attacking southern Ukraine and destroying the port infrastructure involved in the grain deal.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.