“The pact is due to expire on Saturday. It was brokered with Russia and Ukraine by the United Nations and Turkey in July – and renewed in November – to combat a global food crisis that was fueled in part by Russia’s Feb. 24, 2022, invasion of neighboring Ukraine and blockade of its Black Sea grain exports.
‘For us, the text in the agreement is clear and it calls for a 120-day rollover,’ U.N. spokesman Stephane Dujarric told Reuters when asked about remarks by Turkey.
Also yesterday, Reuters writer Laurie Chen reported that, “China hopes the Black Sea grain deal can be implemented in a balanced and comprehensive manner, foreign ministry spokesperson Wang Wenbin said on Thursday, adding that China would like to strengthen communication with all parties and enhance global food security.
“The comments were in response to a question at a regular press briefing about Russia’s proposal to renew the Black Sea Grain Initiative for 60 days, half the term of the previous renewal.”
Reuters News reported today that, “The Kremlin on Friday said Russia was extending the Black Sea grain deal for 60 days, echoing previous statements by the Russian Foreign Ministry.”
The article added that, “Alessandra Vellucci, director of the U.N. Information Service, said negotiations on an extension were continuing.”
The article noted that, “Global grains production is forecast to rise in the 2023/24 season but not enough to prevent a drawdown in stocks, the International Grains Council (IGC) said.
Global #wheat production in 2023/24 is tentatively projected to retreat from the prior year’s record level amid a pullback in harvested area and yields, incl. a drop in the eight major exporters. pic.twitter.com/vqMGlzy3nN
“The inter-governmental body, issuing its first full set of projections for 2023/24, put grains production at 2.283 billion tonnes, up from 2.250 billion in the prior season.
With early harvest data in Argentina confirming poor yields and, with any future rainfall expected to provide only limited benefit to later-sown varieties, 2022/23 #maize (#corn) production is set to fall sharply y/y. pic.twitter.com/COtbANPX0N
Keith Good is the Farm Policy News editor for the farmdoc project. He has previously worked for the USDA’s National Agricultural Statistics Service, and compiled the daily FarmPolicy.com News Summary from 2003-2015. He is a graduate of Purdue University (M.S.- Agricultural Economics), and Southern Illinois University School of Law.
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