IFPRI Division Director: Product deal will help lower prices in global markets (Banki)
Banki (Russia) published an article stating the signing in Istanbul of documents on lifting restrictions on the export of products from the Russian Federation and facilitating the export of agricultural products from Ukraine will help reduce food prices in the world. Nevertheless, it is necessary to wait for its implementation, said Rob Vos, Director of Markets. Vos said the deal will have a big positive impact. It can contribute to a further decline in world food prices.” Vos added that the cost of wheat and corn in the world markets is already declining. Vos said this is partly due to the fact that traders predicted the possibility of a “grocery deal”, as well as on the background of a rich harvest in the US and Australia this year.