Black Sea Grain Initiative extended on deadline day

The Black Sea Grain Initiative, a UN-brokered deal aimed at supplying markets with food and fertilizer amid global shortages and rising prices, exacerbated by the Ukraine war, was extended on Saturday, the day it was due to expire.

The UN-brokered Black Sea Initiative, aimed at ensuring the flow of grain, foodstuffs and fertilizer amid global shortages exacerbated by the war in Ukraine, has now allowed the safe export of more than 30 million tonnes, since it first began in July last year.

Since Russia’s invasion of Ukraine began, exports of grain from Ukraine, as well as food and fertilizers from Russia, have been significantly hit. The disruption in supplies pushed soaring prices even higher and contributed to a global food crisis. The Black Sea Grain Initiative, brokered by the United Nations and Türkiye, was set up to reintroduce vital food and fertilizer exports from Ukraine to the rest of the world. Here are some key points to understand.