Black Sea Grain Initiative

March 16, 2023

Recently Russia agreed to extend Black Sea Grain Deal for 60 days.
BSGI was brokered by United Nations and Türkiye in July 2022 between Russia and Ukraine.
The deal endeavours to tackle escalating food prices emanating from supply chain disruptions due to effective blockage of Black Sea.
The deal put in place a Joint Coordination Centre (JCC), comprising senior representatives from Russia, Turkey, Ukraine and the UN for oversight and coordination.
Objective- To provide for a safe maritime humanitarian corridor for Ukrainian exports (particularly for food grains and fertilizer including ammonia) from three of its key ports, namely, Chornomorsk, Odesa and Yuzhny/Pivdennyi on Black Sea.
Ukraine is among the largest exporters of wheat, maize, rapeseed, sunflower seeds and sunflower oil, globally.