Uk News Ukraine grain export won't make a difference for nations struggling with hunger and high prices United Kingdom news

PremierLeague-News.Com - The first grain shipment from Ukraine since the start of the Russian invasion left Odesa with much fanfare, but it will take more than exports to stem the global food crisis

Uk News Ukraine grain export won't make a difference for nations struggling with hunger and high prices United Kingdom news

PremierLeague-News.Com - The first grain shipment from Ukraine since the start of the Russian invasion left Odesa with much fanfare, but it will take more than exports to stem the global food crisis

Uk News Ukraine grain export won't make a difference for nations struggling with hunger and high prices United Kingdom news
03 August 2022 - 05:01

PremierLeague-News.Com - Breaking Sport Transfer News ! The world looked on with renewed optimism as the first shipment of grain left a Ukrainian port on Monday, hoping it could relieve a global food crisis. But the grain shipment will not be the silver bullet the world is wishing for to counter rising global food prices, which have been fuelled by the economic fallout of the Covid-19 pandemic and extreme weather often made worse by climate change.“Getting 26,000 tons (of corn) out of Ukraine is nice, but it’s not going to make a real bit of difference,” said Tim Benton, director of the environment and society programme at international affairs think-tank, Chatham House.The cargo ship loaded with 26,000 tons of Ukrainian corn leaves Odesa for Tripoli in Lebanon (Photo: Yulii Zozulia/ Ukrinform/Future Publishing via Getty Images)The war in Ukraine has sent global prices of wheat, corn and other grains soaring and has severely reduced the supply of food to African and Middle Eastern countries which heavily rely on Ukrainian grain to feed their populations.On Monday 22 July, Russia and Ukraine signed an agreement to free more than 20 million tonnes of grain stuck in Ukraine’s Black Sea ports. Ukraine, known as Europe’s breadbasket, hopes to export 40 million more tons from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk.The first ship carrying 26,000 tons of corn to world markets since Russia’s invasion blocked exports more than five months ago left the Ukrainian port of Odesa on Monday to much fanfare. Ukrainian President Volodymyr Zelensky described the shipment as “the first positive signal that there is a chance to stop the development of a world food crisis”, but experts are loath to agree.The Lebanon-bound cargo ship is expected to dock at Istanbul on Tuesday, where it will be inspected before being allowed to proceed to Tripoli. Once the ship arrives, there is the question of whether anyone would be able to afford to buy food.Lebanon is in the grips of one of the world’s worst financial crisis, where food inflation has surged to 332 per cent this year, according to a report on food security by the World Bank. Some 19 per cent of Lebanon’s population of 6.8m is facing some sort of food shortage, the World Bank said, where record high prices was made worse by a 2020 explosion at its main port in Beirut which destroyed a complex of grain silos.

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. The resumption of grain shipments from Ukraine is unlikely to make a difference to the rest of the world, added Professor Benton, saying a large part of the global food crisis is being driven by the aftermath of Covid and climate disruption.“We have a food system that is teetering on the brink of being dysfunctional all around the world,” he said. “The system is very fragile because increasingly we rely on a very small handful of crops produced in a relatively small number of places and very low just-in-time supply chains.”His remarks echoed sentiments shared by economist Gabriel Felbermayr, president of the Austrian Institute of Economic Research, who warned grain prices will remain “volatile” for some time. More on Russia-Ukraine warOpinion | From pushing propaganda to advocating war crimes, the Russian embassy has no place in the UK02 August, 2022Energy giant BP sees profits surge to £7bn as millions struggle to pay their bills02 August, 2022First ship carrying Ukrainian grain leaves Odesa as world holds its breath01 August, 2022“Now that we see the US being in recession, Germany close to it (and) China slowing down, this will probably reduce demand for commodities and will bring down some of the extra price growth that the recovery after corona(virus) has generated,” he told Deutsche Welle.“The more important trend is connected to the corona crisis, what the war really brings is a lot of volatility and that, I fear, is not yet over.”The World Bank estimates that food prices will remain high until at least 2024, but Professor Benton said he believes it would be longer than that.Whatever happens with the war in Ukraine, analysts say that it is unlikely that Ukraine will come back to pre-war levels of productivity and export in the short term.The success of the Ukraine grain deal also relies on Russia holding to the letter of the agreement.Professor Benton said there was plenty of scope for Russia’s “dirty tricks” that will spook the market again, using the example of Moscow abandoning the Black Sea outpost of Snake Island as a “gesture of good will” to then fire missiles at Odesa hours later.Of the grain deal, he said: “It’s nice sticking plaster over a wound rather than a fundamental medical intervention to stop the problem.“We’ve got to align our responses to the crisis with our long-term goals for sustainable food systems.”

Source = PremierLeague-News.Com

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