WANDILE SIHLOBO: What does Russia-Ukraine grain deal mean for Africa?
A possible price decline and increase in supply is likely to benefit all importing countries and consumers
Ukraine has about 22-million tonnes of grain (wheat, maize, sunflower seed and other grains) in silos that has for the past few months been unable to reach export markets. This was mainly because of disruptions caused by the war with Russia, the destruction of infrastructure and attacks on vessels transporting goods.
A deal signed by the two warring nations last week promised to change that, with Russia agreeing not to attack grain vessels and to allow the restoration of the grain trade in the Black Sea region. The deal came about through a multinational effort to avert the global food crisis and is likely to contribute positively to grain supplies, though it was on shaky ground within days after Russian missiles hit the southern Ukrainian port of Odesa...
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