India concerned over collapse of Black Sea Grain deal

New Delhi, November 1

India raised concerns at the United Nations Security Council about the suspension of the UN-brokered Black Sea Grain initiative.

“The suspension of the Black Sea Grain initiative is expected to further exacerbate the food security, fuel and fertiliser supply challenges faced by the world, particularly Global South,” said Indian diplomat R Madhu Sudan at the UNSC.

This move would further exacerbate the food security, fuel, and fertiliser supply challenges faced by the world. The Black Sea Grain deal had provided a glimmer of hope for peace in Ukraine and helped contribute to lowering the prices of wheat and other commodities.

“The initiative had resulted in export of more than nine million tonnes of grains and other food products out of Ukraine. We believe the exports had contributed to lowering prices of wheat and other commodities, evident from the drop in the FAO Food Price Index,” he said.

The UN-brokered Black Sea Grain initiative was signed in Istanbul in July. Under the deal, ships transporting grain from three Ukrainian ports travel along an agreed corridor to markets worldwide.