The Kremlin sees “progress” on the grain deal
The Kremlin said yesterday Russia was seeing “some progress” in responding to its demands regarding the Black Sea Grain Export Agreement, which it has not yet committed to extending, after the date set for its expiry, which is November 19. Kremlin spokesman Dmitry Peskov also said that Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan could hold talks on the issue within hours if necessary.
Russian Finance Minister Anton Siluanov was quoted by the Tass news agency as saying his country had expressed support at the G-20 summit for expanding the grain export agreement across the Black Sea, on condition that supplies to the countries be controlled in need. Wheat prices are heading for their first drop in a week as comments from Turkish President Recep Tayyip Erdogan fueled optimism over the extension of the grain export deal with Ukraine.
“It looks like the grain deal will continue,” Erdogan said, according to the Bloomberg news agency.
This would help ensure continued inflow of grain and vegetables from Ukraine in the shadow of war.
For its part, Ukraine’s Ministry of Agriculture announced on its website that grain exports during the season that started July 1 through November 16 reached 15.6 million tons, down 31 percent from a year earlier.
The total includes about 6 million tons of wheat, down 56% on an annualized basis, 1.28 million tons of barley, down 73% on an annualized basis, and 8.25 million tons of wheat, which is double what it was a year ago.
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