Posted on 23 March 2023
The UN Secretary-General released a statement on March 18 that the Black Sea grain initiative had been extended. This deal was signed in Istanbul in July 2022 as a response to the conflict in Ukraine, and was due to expire on Saturday.
The initiative has seen over 25 million tonnes of products shipped from Ukraine’s Black Sea Ports to 45 countries. The UN Secretary stated that “the Black Sea Grain Initiative…(is) critical for global food security, especially for developing countries.”
However, the deal is only said to be lasting another 120 days from the Ukraine side, and it is reported Russia has only agreed to 60 days. As the conflict continues to increase food prices and restrict distribution, it is clear there will be a continued negative impact on global food security.