Relevance:
Global wheat prices have risen following Russia’s withdrawal from BSGI.
Key Points:
- Launched by – Russia, Türkiye, Ukraine and United Nations
- Aim – To reintroduce vital food and fertilizer exports from Ukraine to the rest of world.
- Following Russia-Ukraine Conflict, huge stock of grains built up in silos, with ships unable to secure safe passage to and from Ukrainian ports.
- Deal allowed exports from 3 Ukrainian ports: Chornomorsk, Odesa, and Yuzhny/Pivdennyi.
- Target – To contribute to prevention of global hunger, to reduce and address global food insecurity, and to ensure safety of merchant ships delivering grain and foodstuffs.
Reference: Indian Express
