On July 17, Russia has announced that it will no longer support the Black Sea Grain Initiative, which permitted the safe passage of Ukraine ships for exporting grain via Black Sea. The agreement was drawn up with the aid of the UN and Turkey. The deal expired on July 17 at 5 p.m., so that the last ships left the Port of Odesa on July 16.
This decision affects the global food industry and pet food industry at the same time.
“We are concerned that Russia’s suspension of the Black Sea Grain Initiative will once again have ripple effects across the global corn supply chain, affecting not only food prices, but those of pet food as well — a major user of US corn. During the marketplace instability of the last three years, our industry has managed disruptions in global commodity supplies, but continued volatility in the marketplace only adds to supply uncertainty and the price of production,” stated Constance Cullman, president and CEO of the American Feed Industry Association (AFIA), to Pet Food Processing and is just one voice speaking about the upcoming problems.
Read the full article here – petfoodprocessing.net
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