The United Nations Conference on Trade and Development (UNCTAD) on Thursday released a report on the Black Sea Grain Initiative, the agreement signed last July to ensure the export of cereals and food products from Ukrainian ports in the context of the war between Russia and Ukraine, a document that-the UN body highlighted-notes that the initiative offered hope and showed the power of trade in times of crisis and underlines the importance of its renewal. The agreement, in fact, which has been signed by Ukraine, Russia, Turkey and the United Nations, will expire on November 22.

The UNCTAD report explains that " the United Nations-led initiative has helped to stabilize and subsequently lower global food prices and transport the precious grain from one of the world's granaries to the tables of those who it needs it. " The document specifies that the Food Price Index published by the FAO, the Food and Agriculture Organization of the United Nations, showed that the world's prices of basic food have decreased in recent months : of around -8.6% in July, -1.9% in August and -1.1% in September. But it also highlights that, in view of the expiry of the initiative and in view of the uncertainty of its renewal, the prices of certain raw materials, such as wheat and corn, are returning to rise. "In a context in which trade is very uncertain, the signals are very important," UNCTAD Secretary General Rebeca Grynspan noted. When there is no clarity, no one knows what will happen and the speculation and the accaption of the products take the upper hand. "

Noting that wheat and corn prices are still at historically high levels, UNCTAD has pointed out that this is one more reason why the renewal of the initiative led by the United Nations is important, particularly for countries in the development.

"The renewal of the agreement was expressed by the Minister of Infrastructure of Ukraine, Oleksandr Kubrakov, following a meeting on Sunday in Istanbul with Turkey's defence minister, Hulusi Akar :" There is no doubt, " he said. affirmed Kubrakov-that the "grain corridor" will continue to operate after September 22. " However, until now, the desire to keep this export channel open has been manifested only by three parties to the agreement : "the parties involved in the initiative, the UN, Turkey and Ukraine," Kubrakov said, "they expressed their support for the agreement." readiness to continue to operate and have ensured the utmost commitment to the success of its implementation. " Kubrakov's optimism is perhaps excessive, or at least premature : Russia, which would have submitted specific conditions for renewing the deal, would be ready for the U.N. Security Council to drop the deal.

An agreement that, according to the UNCTAD report, allowed the export through Ukrainian ports of nearly eight million tonnes of grain and other food products.