“With its abundant natural gas supply, Russia has long wielded its resource riches to bludgeon Ukraine, Europe, and other dependent customers. By continuously threatening the future of the Black Sea Grain Initiative, the landmark wartime agreement designed to open up Ukraine’s key farm output for export to world markets, Moscow has also found a way to strangle Kyiv’s agricultural sector—and
by Himanshu Pathak, Taslima Zahan, Apurbo Chaki, and Mamata Pradhan OPEN ACCESS | CC-BY-4.0 Tahera Begum, 47, faced ridicule from her neighbors and relatives when she decided to cultivate potatoes during the recent growing season using climate-smart strip-planting technology instead of the conventional approach, which involves heavy pulverization of the soil in four rounds of tilling before sowing. Though
by Joseph Glauber, Brian McNamara, and Elsa Olivetti OPEN ACCESS | CC-BY-4.0 On July 17, Russia announced that it was terminating participation in the Black Sea Grain Initiative, which allowed exports of grains and other agricultural products from Ukrainian ports. The deal, put in place almost a year before, was scheduled for its fourth renewal. Within hours of the announcement, Russia launched a
“On July 17 the Russian government announced that it was pulling out of a deal to facilitate the export of millions of tons of grain from Ukrainian ports. The arrangement had been in place since July 2022. The Kremlin’s move immediately sparked concern, particularly in food insecure countries,” NPR reports. Joseph Glauber, a senior research fellow at the International Food Policy
“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
by Joseph Glauber and Abdullah Mamun OPEN ACCESS | CC-BY-4.0 On July 20, India announced that it would restrict exports of non-basmati rice to calm domestic rice prices that had risen more than 30% since October 2022 (Figure 1). The ban would halt overseas sales of the grain with “immediate effect,” the government announced, and is estimated to cover
“The price of wheat futures in Chicago, the global benchmark, has risen by 11% since the early hours of July 17th, when Russia said it would not renew a year-old deal allowing ships carrying Ukrainian food exports to cross the Black Sea,” writes The Economist. “Some had hoped that Ukraine would continue to export through the Black Sea, either with the
In an interview for CNBC SQUAWK BOX ASIA, IFPRI senior research fellow Joseph Glauber discusses the halting of the U.N.-brokered Black Sea grain deal after Russia’s withdrawal and the options Ukraine has to export its grains. Watch the video Source: CNBC