Market prices in Somalia rise after Black Sea grain deal terminated

Market prices in Somalia increased after Russia suspended its
participation in the Black Sea grain deal, Azernews reports, citing
Yeni Safak.

In Africa, 25 countries currently rely on Russia and Ukraine for
over one-third of their imported wheat.

In some countries, the dependency on external sources for grain
has surpassed 90%.

During the Russia-Africa Summit on July 27, Russian President
Vladimir Putin announced that his country will provide free grain
to six African countries in the next three to four months.

“We will be ready in the coming months, in the next three to
four months, to provide Burkina Faso, Zimbabwe, Mali, Somalia, the
Central African Republic, and Eritrea with 25,000-50,000 tons of
grain free of charge. We will also provide free delivery of this
product to consumers,” Putin said during his opening speech at the
Russia-Africa Summit in St. Petersburg.

On July 17, Russia suspended its participation in the Black Sea
grain deal, saying the Russian part of the agreement was not
implemented. It sought the loosening of banking restrictions and
the ability to ship its fertilizer before returning to the
agreement.

The agreement, signed in July 2022 in Istanbul by Türkiye, the
UN, Russia, and Ukraine, was aimed at resuming grain exports from
Ukrainian ports halted due to the Russia-Ukraine war, which began
in February 2022.

Türkiye has said that Western countries should try to address
Russia’s complaints and that it hopes Russia returns to the
deal.

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