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Wheat prices are soaring after Russia exits grain deal

Posted on AllSides July 20th, 2023
From The Left
REUTERS/Yoruk Isik

Wheat prices have risen dramatically after Russia threatened to treat ships sailing to Ukrainian ports as military targets. It followed Moscow’s refusal to renew the Black Sea grain deal which allowed the safe export of grain from Ukraine.

For three consecutive nights, Russia struck the port cities of Odesa and Mykolaiv, heightening tensions over exports of grain from Ukraine – a crucial food source for the developing world.

We’ve curated insights and reporting from experts on how the demise of the Black Sea grain deal has impacted wheat prices and food security.

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