US: Istanbul grain deal pushed international food expenses lower

2022-09-20 07:09:35

(MENAFN) The US stated late Thursday that the significant Istanbul grain deal for safe shipments from Ukrainian ports brought down international food costs by getting more than 2.7 million metric tons of grain to international markets.

In a press meeting, the State Department also cautioned: "If agricultural infrastructure within Ukraine continues to be damaged in the war, this progress on global food security will be endangered."

Turkey, the UN, Russia, and Ukraine inked a deal in Istanbul on the 22nd of July to continue grain shipments from three Ukrainian Black Sea ports, which were blocked due to the Russia-Ukraine conflict which broke out in February.

A Mutual Coordination hub with officials from the three nations and the UN was arranged in Istanbul to run the exports, which started on the first of August.

The department also stated that "Russia has exacerbated a global food security crisis, contributed to significant spikes in the cost of wheat, and forced a scramble to keep hungry and vulnerable populations fed."

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