Press officer of the President of the Russian Federation, Dmitry Peskov, announced today that the Moscow government will return to implement the grain corridor agreement as soon as they come the terms of the agreement concerning Russia have been respected. The agreement, which was signed in July 2022 by Russia, Ukraine, Turkey and the UN with the aim of reactivating cereal exports and food from Ukrainian ports blocked by the effects of war between Russia and Ukraine, ends today. The agreement, which is has been extended several times, has allowed in one year the exports of more than 32 million tons of products.

Saturday, meanwhile, Coldiretti has announced that, in the absence of Confirmations on the renewal of the agreement, in a single day, at closing weekly trading, international quotes of the wheat have grown of +3.4% relative to the quotations of the Chicago Board of Trade (Chicago), landmark international agricultural commodities. Coldiretti has highlighted that the UN agreement is important to guarantee the supplies to the poorest countries of Africa and of Asia and avoid famines that can push the flows but it is also necessary to avoid speculation and Trade distortions caused by the influx of Ukrainian wheat into the European market. In Italy in fact - explained the association Italian, representing the agricultural sector - the soft wheat prices have fallen by -30% in the last year, on values that have fallen to just 26 cents per kilo, which do not cover production costs.

Coldiretti stressed that the announcement of the non-extension of the agreement on cereals from the Black Sea involves directly Italy where imports of wheat from from Ukraine are increased of +430% for a quantity pairs to over 142 million kilos while those of corn of +71% for a total of 795 million kilos on the basis of Coldiretti calculations on Istat data in the first quarter of 2023 compared to the same last year's period.

In addition, Coldiretti has specified that the uncertainty on the agreement it also concerns Italy, where a loss is estimated due to bad weather of wheat harvests of at least 10% at national level compared to to last year. The association recalled that Italy, with the 6.3% of total Ukrainian exports of products agricultural, between wheat, corn and sunflower oil, is at the fourth place behind China (24.3%), Spain (18.3%) and Turkey (10%) among the Countries most affected by the UN agreement according to the Centre Divulga studies that highlight how in one year they left the War Territory almost 32.8 million tons of products agricultural, including corn (51% or 16.8 million tons), wheat (27% equal to 8.9 million tonnes), sunflower oil (11% between oil and seeds (3.5 million tonnes) and other products secondary, considering the three Ukrainian ports included in the agreement: Chornomorsk (38.7% of the total), Yuzhny (31.9%) and Odessa (29.4%).