Ukraine Crop Deal Fears Boost Food Costs and Slow Shipments
- UN says talks under way to extend pact beyond mid-November
- Deal brought relief to farmers, but grain flows are slowing
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Ukraine’s farmers are getting increasingly nervous that an escalating war could thwart the renewal of a deal that revived crop exports, dealing a blow to local growers and global food prices.
The pact signed in late July has been a lifeline to the country’s beleaguered farm industry, which historically exports some two-thirds of its grain. It also brought down staple food costs, easing pressure on grocery bills amid a deepening global cost-of-living crisis.