Common Contracts
1 similar Grain Corridor Agreement contracts
Grain Corridor Agreement Offers Potential for More Ukraine ExportsGrain Corridor Agreement • August 12th, 2022
On July 22, 2022, delegations from Ukraine, Turkey, Russia, and the United Nations signed an agreement to provide safe passage for grains from select Ukrainian ports (Odesa, Chornomorsk, Pyvdenny), offering a potential corridor for movement of Ukrainian grain through the Black Sea. This is welcome news for global importers as the expansion of Ukraine’s export capacity for corn, barley, and wheat may ease the pressure of high global commodity prices. The benefits for Ukraine are numerous, not least of which is the stimulation of the economy and influx of funds. For Ukrainian producers and exporters, the ability to ship stored grain at the ports that would otherwise be sitting idle, based on the current pace of exports, is significant. Few grain silos in Ukraine are equipped with the aeration systems essential for long-term storage, putting farmers and exporters at risk of losing a significant share of their commodities, and in turn, the capital required for planting next season. While t
