The stocks of grain trapped were exacerbating a sharp rise of food prices and raising fears of a global hunger crisis.
The ships bound for Ireland, the United Kingdom and Turkey follow the first grain shipment to pass through the Black Sea since the start of the war. The passage of that vessel heading for Lebanon earlier this week was the first under the breakthrough deal brokered by Turkey and the United Nations with Russia and Ukraine.
And while Ukraine is a major exporter of wheat to developing nations, there are other countries, such as the United States and Canada, with far greater production levels that can affect global wheat prices. And they face the threat of drought.Article content Around 6 million tons of the trapped grain is wheat, but just half of that is for human consumption, Laborde said.
One reason prices remain high is the impact of drought on harvests in North America, China and other regions, as well as the higher price of fertilizer needed for farming. “The movement of three additional vessels overnight is a very positive sign and will continue to build confidence that we’re moving in the right direction,” Haines said. “If the flow of grain from Ukraine continues to expand, it will help relieve global supply constraints.”
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