exports via the black sea for another two months. the existing deal was arranged last july to tackle a global food crisis caused by russia s invasion of ukraine one of the world s top grain exporters. it was due to expire today, thursday. arnaud petit, executive director of the international grains council says the extension is vital for many countries food security. you re right, it is very important to have this extension, particularly for north african, sub saharan african countries, which would import much more grains that we have seen in the past season, so really it s good news for them that they can already plan some buying contract with producers in ukraine and also in russia. and important, as you say, about russia because there maybe is a tendency to think that russia is just blocking those exports from ukraine, but this is also good news for russia, isn t it? indeed, both ukraine and russia exported 70 million tonnes of wheat
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insurance for cargoes and vessels that are moving, and they have to find enough crew prepared to sail them. arnaud petit is the executive director of the international grains council. no better man to speak to than about the implications of all this. how crucial is that to the prices of grain in ourshops? crucial is that to the prices of grain in our shops? crucial is that to the prices of grain in our shops?- grain in our shops? well, it s simle, grain in our shops? well, it s simple. that grain in our shops? well, it s simple, that region - grain in our shops? well, it s i simple, that region represents grain in our shops? well, it s - simple, that region represents 30% of the global trade in grains. you see the importance on the market, it would be very quick, and we saw it in february 2022 when the price of wheat increased tremendously by more than 30%. and since then, it s increased by 24%. it s really vital
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