Ukraine grain deal extended by 120 days

A DEAL to free up vital grain exports from Ukraine's southern Black Sea ports – which had been due to expire on November 19 — was extended on Thursday for 120 more days.

The agreement, originally reached in July, created a protected sea transit corridor and was designed to alleviate global food shortages by allowing exports to resume from three ports in Ukraine, a major producer of grains and oilseeds.

The pact created a safe shipping channel for exports from three ports in Ukraine.

So far, some 1108 million tonnes of agricultural products have been shipped, including 4,5 million tonnes of corn.

Shipments of wheat have reached 3,2 million tonnes, or 29% of the total. Other commodities shipped include rapeseed, sunflower oil, sunflower meal and barley.