THEgrain export from Ukrainian ports will be allowed for additional 60 days. This is the conclusion reached during the talks, which took place in Geneva, between the representatives of the UN, the Turkish defense minister and the Russian delegation led by the deputy minister of Foreign Vershinin. The deal was due to expire on March 18. Moscow, then, he will not object to the extension of the agreement that guarantees the safety of Ukrainian exports from three Black Sea ports. An extension for a longer period will be considered by the Kremlin "if the blocks on its imports of agricultural products are lifted," Vershinin said.
The price of wheat is down today to 283,25 dollars (-1,14%).
previous agreements
Part of the credit for the positive conclusion of the talks must be given to Turkish mediation. Turkish Defense Minister, Hulusi Akar he has been at the forefront, together with UN representatives, in seeking a solution to allow the export of grain in order to prevent a global food crisis.
The first grain deal, which guaranteed the security of Ukrainian exports from three Black Sea ports, had arrived in July. In November it was then extended for another 120 days (expiring on 18 March). The extension achieved avoids (or postpones) the risk of a global crisis and cooling down prices. The wheat deal is thesingle scope in which Moscow and Kiev have reached an agreement.
According to UN data, since the start of the initiative, it has been from the Black Sea possible to export 24,1 million tons of wheat and corn. At the end of the talks on Monday evening, the UN secretary general, António Guterres, confirmed the commitment of the United Nations to do “everything possible to preserve theintegrity of the Black Sea Grains Agreement and to ensure its continuity.
A narrow escape for Egypt, the main importer of Kiev's grain
THEgrain warning remains because a 60-day extension does not shelter Kiev's main grain importers, primarily Egypt, as underlined by Coldiretti e Filiera Italia accompanying the delegation led by Foreign Minister Antonio Tajani on a visit to Cairo: “With Russia's announcement of a partial extension of only 2 months of the agreement expiring on March 18 on the grain corridors of Ukraine, alarm is raised, for food and migrants, in North African countries starting with Egypt which forges new trade relations with Italy in the agri-food sector, from couscous to fertilisers” explain the two associations. L'Egypt is the main importer of Kiev's grain and, before the start of the war, 90% of total imports (over 10 million tons per year) came from Ukrainian territory.
