It will be six months since Russia invaded Ukraine on February 24th. All the old channels of trade have to be reignited. The agricultural markets are the only currently allowed in the agreement between Russia and Ukraine. Ukraine would like to also export iron ore, but, unless it is vital for human survival there is not likely an agreement with Russia to do so.
By Michael Hogan
Hamburg - International and local traders (click here) started to offer more Ukrainian-origin grain for sale on Friday as news of the first shipment from the country since Russia’s invasion boosted confidence in a deal to unblock exports from its sea ports.
Prices were discounted, with roughly 20 million tonnes of grain from last year’s crops still stuck in the country.
Diplomatic efforts have focussed on finding a way to transport around 1.5 million tonnes of grain loaded on ships or housed in port storage and millions more in silos across the country, as well as massive volumes from the ongoing harvest.
The July 22 deal brokered by the United Nations and Turkey paved the way for the resumption of grain shipments from Ukraine after U.N. agencies warned a growing global food crisis would lead to starvation and mass migration on an unprecedented scale....
