Russia-Ukraine tensions to push grain prices up – economist
Russia-Ukraine tensions to push grain prices up – economist
AMMAN — Russia’s decision to pull out of the Black Sea grain agreement combined with the global energy crisis will lead to a hike in grain prices, according to Jordanian economist Hosam Ayesh.
Wheat prices, which hit record highs after Russia’s invasion in February, returned to pre-war levels after Ukraine and Russia reached a deal to resume grain shipments from ports on the Black Sea on July 22, he told The Jordan Times on Tuesday.
However, Russia indefinitely suspended its participation in the UN-brokered deal on October 29.
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