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26K Tons of Maize Released from Ukraine Port

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26K Tons of Maize Released from Ukraine Port
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Agencies

August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia.

The agreement was signed a few weeks ago with the mediation of the United Nations and Turkey. According to the officials of Turkey and Ukraine, the ship holding the flag of Sierra Leone left the southern port of Odessa on Monday morning.

Exports of food and grains from Ukraine came to a halt after Russia began its invasion of Ukraine on February 24. As a result, the supply of wheat, soybean, corn and other grains was affected worldwide and the prices surged.

With this, there is a hope that the global food crisis will come to an end and the price of grains will go down again.

According to the Joint Cooperation Center (JCC) established in Istanbul, the ship is carrying about 26,000 tons of corn as per the agreement. The ship is expected to arrive in Turkish waters for inspection on Tuesday.

Ukraine's Minister of Infrastructure Oleksandr Kubrakov wrote in a Facebook post that Ukraine will earn at least USD 1 billion in foreign exchange from grain export after the export from the port is allowed, and this will provide an opportunity for planning in the agricultural sector in the coming year. He also said that 16 ships are waiting to export grain from Odessa in the coming weeks.

Last month, a grain export agreement was signed between Russia and Ukraine for 120 days. As per the information, if both parties agree, then the term of the agreement can be extended. As the Ukrainian grain could not be exported, the price of bread, pasta and other foods made from wheat became more expensive across the globe. Besides, the price of edible oil and fertilizer also surged in the world market.

According to the agreement, Russia will not target the port while the grain is being transported on the ship or in the waterway. Turkey will inspect the ship to ease Russia's suspicions of weapon smuggling on board. Grain will be exported from the ports of Odessa, Chornomorsk and Pivdenne in southern Ukraine.

 

 

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