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Oleksandr Kubrakov: “Grain Initiative” contributes to the fall in global food prices


In particular, the Food Price Index of the Food and Agriculture Organization of the United Nations (FAO) was 138 points at the end of August. This is 2% less than in July. It is also 13.6% less than in March of this year when the maximum growth of the index was recorded.

“Since the start of the “grain initiative”, almost 5 million tons of agricultural products have already been shipped from the ports of Odessa region. Thanks to these volumes, world food prices are decreasing and improving the humanitarian situation in those countries where the population is on the verge of starvation, particularly in Ethiopia and Yemen.

We continue to actively cooperate with the UN to ensure that the Initiative works not only as an economic tool but also as a tool for stabilizing the humanitarian situation in the world.

In addition, with the EU and Moldova, we continue to implement the “Paths of Solidarity” initiative, which provides for the development of alternative logistics routes to sea ports to export Ukrainian agricultural products. Together with international partners, we use all available opportunities to minimize the damage to global food security caused by the full-scale invasion of Russia,” commented the Minister of Infrastructure of Ukraine, Oleksandr Kubrakov.

The FAO grain price index at the end of August amounted to 145.2 points, which is 1.4% less than in July and 14.6% less than in March of this year.

The FAO food price index reflects the monthly dynamics of international prices of a basket of food products. In particular, the indicator includes 5 indices: prices for meat, dairy products, grain, vegetable oils, and sugar.