Russia and Ukraine signed the Grain Export Agreement on July 22, 2022
Russia
Ukraine
Published Jul 27, 2022
Tridge summary
If Russia upholds the agreement signed with Ukraine allowing the resumption of grain exports, a huge amount of grain will be exported to many countries, including countries in Africa. Ukraine has about 22 million tons of grain (including wheat, corn, sunflower seeds and other grains) in storage that cannot be exported because conflict with Russia has disrupted shipping.
Original content
Ukraine is a major exporter of grains and oilseeds in the world, so the bottleneck in exports has contributed to a sharp increase in world prices. On July 22, 2022 Ukraine and Russia signed a "grain export agreement" aimed at changing this situation. Under the agreement, Russia promised not to attack grain ships in the Black Sea region. However, less than 24 hours after the deal was signed, Russian missiles hit the key Ukrainian port of Odesa, potentially derailing the deal, a multinational effort to avert the conflict. global food crisis. Grain traders may be reluctant to enter the sector if they consider it too risky, which will ultimately lead to a deal failure. But if Russia keeps its promise, the benefits will come immediately. Grain prices may fall as there is more supply to the world market. Overall, this will be a good opportunity for consumers, especially people in less developed countries. The drop in prices could be a positive sign as world grain prices have fallen ...
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