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United Nations: Grain corridor agreement holds promise

The United Nations Conference on Trade and Development stated that the grain corridor agreement signed with the mediation of Turkiye and the United Nations to provide grain shipments from Ukraine is promising and shows the power of trade in times of crisis.

In the report published by the United Nations Conference on Trade and Development (UNCTAD), it was emphasized that the extension of this agreement is vital for lowering global food prices and ensuring food security.

It was stated that thanks to the agreement, activities in Ukrainian ports returned to normal, and as of October 19, the amount of grain shipped from Ukrainian ports reached 8 million tons.

“Although shipments decreased by 40 and 50% compared to pre-war, food prices stabilized and started a downward trend thanks to this initiative,” the report said.

Sharing the information that global food product shipments decreased by 8.6% in July, 1.9% in August and 1.1% in September, the following was stated, “This agreement is promising for the future and shows the power of trade in times of crisis.”

Source: Trthaber / Translated by Irem Yildiz

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