G20 Calls for Continued Grain Exports from Russia and Ukraine to Ease Global Food Inflation, Especially in Developing Nations

G20 nations call for uninterrupted grain exports from Russia and Ukraine to ease global food inflation
Developing nations depend heavily on grain shipments from the war-affected region
Indian Finance Minister says grain exports will bring down food inflation globally
G20 joint communique stresses need to meet demand in least developed countries, especially Africa
Exports necessary to deliver grain, foodstuffs and fertilizers to developing and least developed countries

nikkei.com

Relevant topic timeline:

7/27/2023

Putin offers African countries 'free grain' in bid to shore up global support

Main Topic: Russian President Vladimir Putin promises African leaders tens of thousands of tons of free grain. Key Points: 1. Putin announced the provision of 25,000-50,000 tons of free grain to six African countries. 2. Russia faced international criticism for endangering the world's food supply by bombing Ukrainian ports and reneging on an export deal. 3. The decision to quit the Black Sea Grain Initiative has impacted Ukrainian exports and worsened the global food crisis.

9/6/2023

Russia: Turkey agrees in principle to handle 1 million tons of grain for Africa

Russia has reached an agreement with Turkey to handle 1 million metric tons of discounted grain that Russia plans to send to Africa with financial support from Qatar, as part of its efforts to court African countries suffering from food shortages.

9/8/2023

War and Weather Threaten Global Food Supplies, But Large Shortages Unlikely

Russia's blockade of Ukrainian grain exports and extreme weather events have raised concerns about global food supplies, but the OECD suggests that the situation may not be as dire as it seems, with adjustments and adaptations being made to production and logistics chains to mitigate potential shocks in the market.

9/16/2023

Russia's Bumper Wheat Harvest Consolidates Control of Global Market Amid Ukraine War

Russia's bumper wheat harvest, coupled with the disruption of Ukraine's food exports due to the Kremlin's war, has cemented Russia's position as the leading exporter of wheat and has resulted in the lowest wheat prices in almost three years. Despite Russia's efforts to raise prices to benefit its own farmers and generate more tax revenues, the supply glut has depressed prices and made Russia the "price maker" in the market.

9/30/2023

Global Food Prices Surge as Drought, Climate Change, and Ukraine War Restrict Exports

Countries around the world are facing shortages of essential foods due to export restrictions, climate change, and geopolitical conflicts, leading to skyrocketing prices and making it difficult for people to afford meals.

10/5/2023

Russia Leverages Wheat Dominance to Undermine Ukraine and Extend Global Influence

Russia is expected to export a historically high amount of wheat this year, gaining a larger share of the global market and undermining Ukraine's position as a top wheat exporter, which would have major economic and war-fighting implications for Ukraine; Russia's actions are also aimed at cultivating alliances with developing nations and gaining positive publicity.

Topics

Posted 9/9/2023, 2:26:00 PM