“Russia has suspended participation in a deal that let Ukraine ship its grain through its ports on the Black Sea, upending a pact that mitigated a global food crisis. Russia’s exit could again threaten food prices, and food insecurity, worldwide,” writes Vox.
“The Black Sea Grain Initiative was “never a panacea for Ukrainian agriculture,” said Joseph Glauber, senior research fellow at the International Food Policy Research Institute; even with some foodstuffs going out, high input costs, conflict, and Russian occupation have dramatically driven down Ukrainian agricultural production and exports.
“But the deal did help stabilize global food prices and prevent spiraling food insecurity. “The fact is, with the agreement, global prices have been lower, so that’s all very positive,” Glauber said.
“The deal also provided a small lifeline for a Ukrainian economy destroyed by Russia’s invasion. But Ukraine’s agricultural production is nowhere near pre-war levels, down by about 35 percent, according to Glauber. The war continues to complicate both planning and planting”.
