Ukraine is doing everything possible to prolong the grain deal

UkrAgroConsult

Ukraine exported more than 30 million tons of grain in the 2022-23 season. Approximately the same amount of grain remains in storage in the country. How much more grain will Ukraine be able to sell and what awaits the Grain Corridor, which accounts for most of the exports, and whether the agreement, which expires in the second half of March, will be extended. Taras Vysotsky, First Deputy Minister of Agrarian Policy and Food of Ukraine, told 1+1 TV channel.

He noted that Ukraine is doing everything possible to prolong the agreement and is holding talks with its partners, the UN and Turkey.

“Everyone understands the importance of the Grain Corridor for global food security. We are taking all possible measures to continue its work. We expect that in the 20th of March, when the current grain agreement expires, a consensus decision will be made together with our partners to extend it. Negotiations are ongoing,” said Taras Vysotskyi.

Regarding the impact of the agreement on the price of agricultural products for Ukrainian farmers, he confirmed that there is a certain price decrease due to the difficulty of forecasting shipments from ports after March 20.

“Usually, all grain and oilseed markets are correlated with each other. Therefore, a similar downward trend in prices is also observed for wheat, barley and partly oilseeds. This situation was also observed in the fall, when the issue of extending the previous grain agreement was raised. We hope that after a clear signal of its extension, there will be a clear planning of sea shipments and the price will stabilize,” the First Deputy Minister said.

According to him, there is still a queue of ships to cross the Bosphorus due to sabotage by Russian inspectors. On average, 2.5 ships pass through per day. This delay causes additional costs for the Ukrainian agriculture.

Taras Vysotsky emphasized several critical things for Ukrainian exports. This is the expansion of the geography of ports. In particular, this refers to Mykolaiv port, which before the war was one of the largest ports in terms of agricultural products shipped. It is also important to expand the range of exports.

“Ukraine produces a lot of value-added products. In particular, these are horticultural and livestock products that the world needs,” he added.

He also emphasized the importance of the humanitarian initiative Grain from Ukraine, which provides grain to countries on the verge of famine.

“Thanks to international support, we have managed to ship 140 thousand tons of grain so far. Recently, the fifth vessel has left for Africa. With more favorable export conditions, the speed of assistance will increase,” said Taras Vysotsky.

Tags: grain, Grain from Ukraine, Ukraine, export