Turkey Tries to Broker New Grain Corridor in Black Sea

Turkey is reviving its role as mediator in talks between Russia and Ukraine to establish a new grain corridor in the Black Sea. This effort aims to restore commercial shipping through a new security mechanism, preventing further escalation of the global food crisis.

The blockade of trade routes has halted significant portions of grain supplies from Russia and Ukraine, with estimates suggesting that around 100 million tonnes of products are unable to reach global markets. Russia has accumulated approximately 60 million tonnes of grain due to a record harvest and export restrictions, while Ukraine has around 30-35 million tonnes held in warehouses and temporary storage facilities.

Turkey's Ministry of Transport and Infrastructure and Ministry of Foreign Affairs are maintaining continuous contacts with both Moscow and Kyiv. Kazım Taycı, chairman of the Istanbul Cereals, Pulses, Oilseeds and Products Exporters' Association, has stated that grain prices have already risen by 4-4.5% following the effective halt in supplies from Russia and Ukraine.