The grain deal is helping to restore stability in world markets, so it needs to be extended. About this TASS stated Monika Totova, Economist of the Food and Agriculture Organization of the United Nations (FAO).
“The possible termination of grain shipments from Ukraine as part of the grain deal adds more uncertainty to the markets and this is more reflected in the futures markets. Failure to extend the agreement will affect prices,” he said.
According to him, the Black Sea grain initiative helps stabilize world markets. It also helps Ukrainian farmers continue production by providing additional funds.
He added that wheat prices decreased by 2.3% in April due to the large stocks of Australia and Russia. In addition, the continuation of the harvest of spring crops in the Southern Hemisphere is also effective in the decline in prices.
Earlier on Tuesday, TRT Haber TV channel cited a source at the Turkish Ministry of National Defense. knowledgeableIt has been reported that the inspections of the ships covered by the grain agreement in Turkey have resumed. It was noted that Turkey has “implemented initiatives” to restart the work of the grain corridor.