The grain agreement should be extended – the world needs more food
7.11.2022 - 12:10
Ukraine is optimistic about the continuation of the grain agreement after November 19, because there is a high demand for agricultural products in the world.
The extension of the agreement is scheduled for November 19, which will be an important step for future sales of agricultural products. This opinion was shared by the Deputy Minister of Infrastructure of Ukraine Yuriy Vaskov, writes Bloomberg.
Farmers and traders will be forced to resort to longer and more expensive land and river routes if the Black Sea ports are blocked again; this will lead to a reduction in the export of grain and oil crops.
“The chances that the grain agreement will be extended are very high, as the whole world supports the need to supply Ukrainian agricultural products to world markets,” said Vaskov.
The agreement, which is coming closer the end of its initial 120-day period, will be automatically extended for the same period unless either side objects, he said. Ukraine has submitted requests to Turkey and the UN, which are mediators of the agreement, to “confirm the absence of comments,” Vaskov added.
It will be recalled that russia agreed to resume participation in the agreement on November 3. The agreement, signed in July, enabled the safe passage of ships transporting grain from Ukraine.
