'Grain Initiative' contributes to falling global food prices


In particular, the food price index of the Food and Agriculture Organization of the United Nations (FAO) at the end of August was 138 points. This is 2% less than in July. It is also 13.6% less than in March this year, when the maximum growth of the index was fixed. This is reported by the press service of the Ministry of Infrastructure.

'Since the start of the "grain initiative", almost 5 million tons of agricultural products have already been shipped from the ports of Big Odessa. Thanks to these volumes not only reduce world food prices, but also improve the humanitarian situation in countries where the population was on the verge of starvation, in particular in Ethiopia and Yemen.

We continue to actively cooperate with the UN so that the Initiative works not only as an economic instrument, but also as a tool to stabilize the humanitarian situation in the world.

Besides, together with the EU and Moldova we continue to implement the "Solidarity Routes" initiative, which envisages development of alternative seaport logistics routes for exports of Ukrainian agricultural products. Together with international partners we use all available opportunities to minimize the damage to global food security caused by Russia's full-scale invasion,' commented Oleksandr Kubrakov, Minister of Infrastructure of Ukraine.

The FAO Cereal Price Index was 145.2 points in August, which is 1.4 percent lower than in July and 14.6 percent lower than in March this year.

FAO food price index reflects the monthly dynamics of international prices of a basket of food commodities. In particular, the index includes five indices: the price of meat, dairy products, cereals, vegetable oils and sugar.

PigUA.info by agravery.com