Russia and Ukraine ranked among the top three grain producers in the world before the conflict began in February. Now about a third of their exports have been trapped in ports. Russian and Ukraine are both leading suppliers of foodstuffs and fertilizers to global markets. An estimated 400M people worldwide rely on Ukrainian food. Before the war, 30% of global wheat exports, 31% of barley and 60% of sunflower oil came from Russia and Ukraine.

For more on the deal and its impacts on global food supplies, we spoke to Taha Arvas, who is Adjunct Professor of Finance at Bogazici University in Istanbul.

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