War-torn Ukraine could launch its first grain export ships as early as this week, Turkish officials said on Sunday.
“If all (details) are completed by tomorrow, there appears to be a strong possibility that the first ship will leave port tomorrow,” government spokesman Ibrahim Kalin said. “We will see the ships leaving the ports the next day at the latest.”
The United Nations brokered a deal in Istanbul in hopes of easing both grain shortages and soaring prices.
Both Ukraine and Russia are major wheat suppliers, with exports plummeting following Moscow’s invasion of its neighbour.
The deal would allow grain shipments from a Ukrainian port in Odessa.
It would also allow Ukraine to release 22 million tonnes of grain and other agricultural products that have been in ports since hostilities began in February.
According to the Wall Street Journal, weather conditions in other grain-growing regions, including South America, have also contributed to growing supply concerns.
The Turkish-brokered deal has led to lower grain prices, but continued instability in Ukraine and fears of recession continue to fuel concerns.
With post wires