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Friday, July 19, 2024


    Somalia’s market prices have risen following the cancellation of a Black Sea grain agreement.

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    Following Russia’s withdrawal from the Black Sea grain deal, market prices in Somalia rose.

    Currently, 25 African nations rely on Russia and Ukraine for more than one-third of their imported wheat.

    Some countries’ reliance on foreign grain sources has approached 90%.

    On July 27, Russian President Vladimir Putin said that his country will send free grain to six African countries over the next three to four months during the Russia-Africa Summit.

    “We will be ready in the coming months, in the next three to four months, to provide free grain to Burkina Faso, Zimbabwe, Mali, Somalia, the Central African Republic, and Eritrea.” “We will also provide free delivery of this product to consumers,” Putin stated at the Russia-Africa Summit in St. Petersburg.

    Russia halted its participation in the Black Sea grain deal on July 17, claiming that the Russian portion of the agreement had not been implemented. Before returning to the accord, it demanded the relaxation of banking restrictions and the right to transport its fertilizer.

    The agreement, signed in Istanbul in July 2022 by Turkey, the United Nations, Russia, and Ukraine, aimed at restoring grain shipments from Ukrainian ports that had been interrupted owing to the Russia-Ukraine conflict, which began in February 2022.

    Turkey has stated that Western nations should attempt to resolve Russia’s grievances and that it expects Russia would return to the agreement.


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