Wheat and corn prices rose even as grain ships left Ukraine despite Russia saying it would suspend its participation in an export agreement
ISTANBUL—Grain ships continued to move in and out of Ukrainian waters in the Black Sea, a day afterPrices of wheat and corn, meanwhile, wereRussia said on Saturday that it had suspended its participation in an agreement with Ukraine, Turkey, and the United Nations that has
Ukraine’s infrastructure minister, Oleksandr Kubrakov, said that the four incoming ships entered the Black Sea corridor after being inspected by officials from Ukraine, Turkey and the U.N. Russian officials would ordinarily participate in the inspections, which take place when the ships enter and leave the Bosporus.
“These foodstuffs were intended for the residents of Ethiopia, who faced the real possibility of mass starvation,” said Mr. Kubrakov in a tweet. Ukraine grain exports had recovered near to prewar levels after the reopening of the Black Sea corridor, which had always carried the majority of the country’s agricultural products. That took pressure off the price of grains. Disappointment over some major harvests, such as the U.S., Argentina and in parts of Europe have kept prices higher.
Russia said it decided to suspend the deal in response to a Ukrainian attack on Russian naval forces in occupied Crimea over the weekend.
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