. UN 'doing everything possible for Stretching of Black Sea grain deal

UN ‘doing everything possible for Stretching of Black Sea grain deal

UN ‘doing everything possible for Stretching of Black Sea grain deal

wheat price
  • United Nations, March 18 (IANS) Martin Griffiths, the UN Undersecretary-General for Humanitarian Affairs and exigency Relief fellow, said that the world body is doing “everything possible” to insure the extension of the Black Sea Grain Initiative. 
  • On July 22, 2022, Russia and Ukraine independently inked a document in Istanbul with Turkey and the United Nations on grain and fertiliser exports from Ukraine and Russia to insure inventories to global requests amid the Russia- Ukraine fortified conflict.  
  • The deal, originally in effect for 120 days, was extended in mid-November 2022 for another 120 days to March 18. “Right now, the United Nations, under the leadership of our clerk-general, is doing everything possible to make sure that the Black Sea Grain Initiative can continue,” Griffiths told a Security Council meeting on the situation in Ukraine, convened a day before the deal is set to expire, Xinhua news agency reported. ” We continue to engage nearly with all parties,” he said via a videotape link.
  • Russia and the United Nations also in ked a resemblant memorandum of understanding in July 2022 to grease disencumbered exports of Russian food and fertiliser.  The signing of those agreements was a critical step in the broader fight against global food and security extremity, especially in developing countries, Griffiths said. ” As a result, requests have been calmed and global food prices have indeed continued to fall,” he said, noting that under the Black Sea Grain Initiative, close to 25 million metric tons of foodstuffs have been safely exported from Ukraine since August.  
  • The World Food Programme has been suitable to transport further than half a million metric tons of wheat to support philanthropic operations in Afghanistan, Ethiopia, Kenya, Somalia and Yemen, Griffiths added.
  • Beforehand this week, Russian Deputy Foreign Minister Sergey Vershinin said that Russia agreed to extend the grain import deal by 60 days, after addresses with UN representatives in Geneva.  Russia” does not expostulate to another extension of the’ Black Sea Initiative’ after its alternate term expiration on March 18, but only for 60 days”, Vershinin said in a statement.  
  • Vershinin stressed that while the marketable import of Ukrainian products is carried out at a steady pace, bringing considerable gains to Kiev, restrictions on the Russian agrarian exporters are still in place.
  • ” Our farther station will be determined upon the palpable progress on normalization of our agrarian exports, not in words, but in deeds,” Vershinin said.  Griffiths reiterated that the UN is sparing no trouble to grease the full perpetration of the agreement with Russia, saying meaningful progress has been made but impediments remain,” especially with regard to payment systems”.  Admitting” there is further to do”, he said sweats to overcome the remaining impediments will continue” unabated”. ” It’s vital for global food security that both of these agreements continue and should be completely enforced,” said Griffiths.

Trade Idea:

  • US Wheat Future is currently trading at $700. Moreover, according to some famous technical indicators like Momentum Oscillators, Volatility, Trend Oscillators and Moving averages all are saying 100% sell. But if we see the related indices price change all are going down. So, we could take a selling position on US Wheat Future.

About Author

Related posts

Leave a Reply