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The world's food security is at stake as Russia exits Ukraine grain deal

The sudden move by Russia has left leaders scrambling to rescue the UN-and-Turkey-brokered agreement credited with saving vulnerable populations from risk of starvation.

Photo: Bloomberg
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Photo: Bloomberg

Kim Chipman and Tarso Veloso | Bloomberg
Traders are bracing for a fresh spike in grain prices after Russia’s exit from a deal allowing Ukraine crops to move from the Black Sea to the countries most in need of them roils markets anew.
 
The sudden move by Russia has left leaders scrambling to rescue the UN-and-Turkey-brokered agreement credited with saving vulnerable populations from risk of starvation. 

The pact reached in July had helped temper wheat futures after they rocketed to a record high in the wake of Russia’s invasion of Ukraine in late February. The latest trade setback threatens to worsen already severe inflation and deepen a

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First Published: Oct 31 2022 | 7:44 AM IST

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