WEAT - Grain deal reached for Ukrainian imports into EU

2023-05-01 07:41:58 ET

In a show of unity as Ukraine plans a major counter-offensive against Russia, a deal has been reached that would allow the transit of Ukrainian grain to resume through five neighboring EU countries.

Restrictions were imposed by Poland and Hungary, as well as Romania, Bulgaria and Slovakia after much of the produce ended up in their local markets and crashed prices for local farmers .

Not many details of the agreement have been revealed, but it covers wheat, maize, rapeseed and sunflower seeds, and includes a financial support package worth €100M for farmers.

"I welcome the agreement in principle," tweeted European Commission President Ursula von der Leyen, adding that it "preserves both Ukraine’s exports capacity so it continues feeding the world, and our farmers' livelihoods."

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