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Russia ready to export 30 million tons of grain by year's end

Reuters ECONOMY
Published September 02,2022
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Russia has agreed with the United Nations to put 30 million tons of grain on the international market by the end of 2022 to help alleviate global food shortages caused, in part, by Moscow's war on Ukraine.

"This will make it possible to support countries in need and help stabilize food scarcity around the world," the Russian Agriculture Ministry said on Friday.

The ministry estimates that Russia will harvest 130 million tons of grain this year, including 87 million tons of wheat.

The UN has warned for months that the war in Ukraine, climate-fuelled disasters and financial shocks have put global food security at risk in impoverished countries, particularly in Africa.

Ukraine is known as one of the world's breadbaskets and Russia's invasion has severely disrupted its grain exports. Agricultural deliveries from the country's Black Sea ports were, until a few weeks ago, blocked.

But in a breakthrough in July, both Russia and Ukraine agreed to allow grain exports from three Black Sea ports.