EconomyWTO hopes to lower prices after grain deal extension

WTO hopes to lower prices after grain deal extension

-

Wheat harvest in the Stavropol Territory. archive photo

WTO hopes agricultural commodities prices will fall after grain deal is extended

GENEVA, 18 November – RIA Novosti. WTO spokesman Daniel Pruzin told RIA Novosti that he expects the extension of the World Trade Organization (WTO) grain agreement to help lower prices for grain and other agricultural products.

“The extension of the Black Sea Grain Export Agreement is good news. The agreement should continue to help millions of people suffering from severe hunger around the world by calming the markets, and hopefully lead to lower prices for grain and other agricultural product inputs,” said Prusin.

As the representative of the organization recalls, former WTO Director-General Ngozi Okonjo-Iweala said that closing the Black Sea trade risks causing a global food crisis that will hit Africa and the Middle East the most.

The grain agreement, signed on July 22 by representatives of Russia, Turkey, Ukraine and the UN, includes the export of grain, food and fertilizer to the Black Sea from Ukraine’s three ports, including Odessa. The Joint Coordination Center (JCC) in Istanbul is responsible for coordinating the movement of ships. The contract expired on November 18, but automatically meant an extension of 120 days if neither party objected. A day ago, the Russian Ministry of Foreign Affairs said that “no such objection has been received” and also noted that the Russian side allowed the technical extension of the “Black Sea initiative” for Ukrainian grain exports without any change in terms and conditions. binoculars.

Source: Ria

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Russian Ambassador summoned to Canadian Foreign Ministry over LGBT propaganda law

Canadian flags in Ottawa. archive photoThe Russian Ambassador to Canada said that LGBT people were summoned to the...

Sorokin was recognized as the third star of the week in the NHL.

Russian Islanders goalkeeper Sorokin named third NHL star of the weekMOSCOW, November 28 - RIA Novosti. According to the...

US says Poland forced Germany to send troops to Ukraine

Anti-aircraft missile system Patriot. archive photoDefense News: Germany will have to send troops to Ukraine in case of...

Russian grandmaster Nepomniachtchi withdraws from rapid chess tournament

Russian grandmaster Nepomniachtchi was eliminated from the Speed ​​Chess Championship in the 1/8 finalMOSCOW, November 29 - RIA Novosti....

Must read

Russian Ambassador summoned to Canadian Foreign Ministry over LGBT propaganda law

Canadian flags in Ottawa. archive photoThe Russian Ambassador...

Sorokin was recognized as the third star of the week in the NHL.

Russian Islanders goalkeeper Sorokin named third NHL star of...
- Advertisement -spot_img

You might also likeRELATED
Recommended to you