Even in the most unfavorable scenario – the parties refuse to extend the grain deal – Russian and Ukrainian agricultural supplies will still continue. This is due to the continued fall in foreign exchange prices for grain, opens The words of Dmitry Rylko, Director General of the Institute for Agricultural Market Research (IKAR), “Rossiyskaya Gazeta”.
World grain prices have been falling continuously since last November. In April 2023, the market value of wheat fell another 2.3%, reaching its lowest level since July 2021. The article states that the main reasons for such dynamics are the large-volume export offers of these products from Russia and Australia.
“Despite the uncertainty about the extension of the agreement, grain prices continue to fall – everyone understands that even if blocked, both our and Ukrainian food supply will continue,” Rylko said.
May 6, analysts of the National Bank of Ukraine (National Bank) sent The results of the inflation report that the termination of the grain deal threatened the country’s economy with losses of $290 million per month. At the same time, if the terms of the restrictions on the export of products to Eastern European countries are extended, Ukraine will lose another 270 million dollars on a monthly basis.