By Wong Kon How
What is Black Sea Deal and how will it affect all of us?
Some fact to know:
· Russia and Ukraine account for about a third of the world’s wheat exports
· 19% of the world’s fertilizer exports
· 15% of the world’s corn exports
Meat production and consumption are key in Asia and for many Asian countries, grains such as wheat, corn, and soybeans are needed for animal feed to produce beef, pork, poultry as well as fish. And fertilizer for crops production.
Over the weekend, the Russian foreign ministry said it “can no longer guarantee the safety of civilian dry cargo ships participating in the Black Sea Grain Initiative and will suspend its implementation from today for an indefinite period.”
“Consumers throughout Asia-Pacific should expect to pay more for basic foodstuffs and also for meat.”