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Putin’s Attack on Ukraine Grain Deal Stokes Food Inflation Fears

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Russian President Vladimir Putin’s criticism of the grain deal with Ukraine and the surge in wheat prices highlighted the fragility of the global crop trade, raising the specter of higher food prices to come. 

The grain shipment corridor from Ukraine is not helping poorer countries, as the majority of supplies are going to Europe, Putin said on Wednesday. He added that it may be worth discussing restrictions on the routes with Turkish President Recep Tayyip Erdogan, putting the future of the deal in jeopardy.