Black Sea Grain Deal

Why in news?

• Recently, the Turkish President has met with the Russian President in order to revive Black Sea Grain Deal, which Russia had withdrawn from in July 2023.

About Black Sea Grain Deal:

• Ukraine is among the largest exporters of wheat, maize, rapeseed, sunflower seeds and sunflower oil, globally. Ukraine normally supplies around 45 million tonnes of grain to the global market every year.
• Countries in West Asia and Africa such as Egypt, Turkey, Lebanon, Sudan and Yemen depend more on Russian and Ukrainian exports. They tend to buy more during the winter to supplement their own harvests, which are largely consumed by the end of the year
• But following Russia’s invasion of Ukraine, mountains of grains built up in silos, with ships unable to secure safe passage to and from Ukrainian ports, and land routes unable to compensate. This contributed to a jump in the price of staple foods around the world.
• To overcome this, in July 2022 the UN, Russian Federation, Turkey and Ukraine agreed to the Black Sea Grain Initiative.

Recent Changes:

• Russia  announced its withdrawal from the Black Sea Grain Initiative for an indefinite period after accusing Ukraine’s “massive” drone attack on the Black Sea Fleet in Sevastopol in Crimea.
• This is expected to further exacerbate the food security, fuel and fertilizer supply challenges faced by the world.

PRACTICE QUESTION:

Black Sea Grain Initiative’ is an agreement signed among which of the following countries?

1. Russia

2. Turkey

3. Ukraine

Select the correct answer using the code given below:

(a) 1 and 3 only

(b) 2 only

(c) 2 and 3 only

(d) 1,2 and 3

Answer