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Russia extends grain export agreement with Ukraine

Russia and Ukraine have agreed to extend an export agreement, which could help avoid a global food crisis.

The UN-brokered export corridor agreement is set to expire Friday, but Kansas State economist Antonina Broyaka says the deal ensures a stable food supply. “If it will not, then it means that world will not get enough grain especially in interdependent countries.”

She tells Brownfield an increase in exports will help provide additional storage capacity for crops that still need to be harvested. “Farmers got some portable storage facilities.  Some plastic bags, but is still not enough.  It depends on the region and farmer to farmer.  Some farmers have enough, and some don’t.”

Broyaka says 60 percent of Ukraine’s crops will be exported.