A leading Ukrainian agribusiness organisation remains optimistic that a recent deal between Ukraine and Russia to restart Black Sea exports will succeed.
There are numerous challenges to resuming tradeThe Ukrainian Grain Association represents some of the world's largest grain trading organisations, which handle about 90 per cent of Ukrainian grain and oilseed exports.
Russia's invasion, which began in February, has impounded around 20 million tonnes of Ukrainian grain, much of it held in port storages in Ukraine. Agricultural products were worth $27.8 billion – or 41 per cent – of Ukraine's total export value in 2021, according to the United States Department of Agriculture .On July 22, Ukraine and Russia signed mirror agreements with the United Nations and Turkey to get grain moving out of Black Sea ports.
Ukraine supplies grain to some of the most food-insecure nations in the Middle East and northern Africa.
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