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Home Business Agribusiness

Food and fertilizer trade to Africa may be hampered, depending on the decision Putin makes

2 years ago
in Agribusiness, Economy, Features, highlights, Home, home-news, latest News, Markets, Trade
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Food and fertilizer trade to Africa may be hampered, depending on the decision Putin makes

As Russian President Vladimir Putin prepares to review the fate of a pact permitting the safe Black Sea shipment of food and fertilizer from Ukraine, key African governments emphasized the necessity for grain imports to combat food hunger.

A team of African leaders is set to visit Ukraine and Russia starting this week to bring Russia’s 16-month-long war to a conclusion, and Putin has stated that he intends to discuss the Black Sea grain agreement. According to a draft framework paper seen and reported by the American news agency, Reuters on Thursday, African leaders may potentially propose to Putin an “unconditional grain and fertilizer deal.”

The Russian president, on Tuesday, noted that Russia was considering withdrawing from the Black Sea grain effort, which the United Nations and Turkey negotiated in July of last year because its grain and fertilizer supplies are being hampered. The agreement might expire on July 17.

According to Vincent Magwenya, spokesperson of South African President Cyril Ramaphosa, Putin and Ukrainian President Volodymyr Zelenskiy agree on the “importance of grain deliveries to Africa for the alleviation of food insecurity.”

Dmitry Peskov, a spokesperson for the Kremlin, stated on Wednesday that Moscow has not yet decided whether or not to withdraw.

The restart of its ammonia shipments through the Black Sea and the reconnection of the Russian Agricultural Bank to the SWIFT payment system are among the requests that Russia has made known.

In remarks to reporters on Thursday, U.N. Secretary-General Antonio Guterres expressed his hope that the discussions between Russian President Vladimir Putin and the leaders of Africa would result in “a positive outcome with regard to the Black Sea initiative, as well as with regard to the efforts that we are making for the exports of Russian food and fertilizer.

Although Russia’s food and fertilizer exports are not subject to the harsh sanctions the West has placed on it because of the war, Moscow claims that limits on payments, logistics, and insurance present obstacles.

Putin also bemoaned the fact that “almost nothing goes to African countries” as a result of the agreement and said that Moscow is prepared to provide the world’s poorest nations with free grain.

More than 31 million tonnes of grain have been exported under the treaty, 43% of which went to developing nations, according to U.N. figures. The U.N. World Food Programme has transported more than 625,000 tonnes of grain for humanitarian efforts.

The first 120-day duration of the Black Sea grain agreement was arranged. Three times, Russia has agreed to prolong it, but on Wednesday, it issued a warning that its “goodwill” cannot remain indefinitely.

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