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Food prices will go up again if grain deal not extended, says source in Ankara

"Without the grain deal, which expires tomorrow, it will not be possible to restrain the prices," the source said

ANKARA, May 17. /TASS/. Food prices on world markets will rise again without extending the grain deal, a source in Ankara told TASS on Wednesday.

"If the grain deal fails to be extended, then food prices will go up again. Without the grain deal, which expires tomorrow, it will not be possible to restrain them. Therefore, we, as Turkey, expect it to be extended," the source said.

On July 22, 2022, a package of documents on the supply of food and fertilizers to the international market was signed in Istanbul. The agreements were originally concluded for a period of 120 days. They were extended for the same period last November. On March 18, 2023, Russia announced the extension of the deal for 60 days, warning that this period of time would be enough to see if the memorandum signed with the UN was being implemented.

Moscow has repeatedly stated that any further decision to extend the deal would depend on the fulfillment of the Russian part of the agreement. The lack of progress on this issue endangers the future of this initiative as such.

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