AMMAN — A report from the
World Bank revealed that
food prices in Jordan declined by 1 percent until the end of June, based on the
latest available statistics. This decline followed a previous drop of about 1.9
percent at the end of May.
Concerns
in the global market
However, the report also highlighted concerns in the global markets
due to Russia's withdrawal from the
Black Sea Grain Initiative (BSGI), raising
fears of a potential price increase, Hala News reported.
The termination of the grain agreement between Russia and Ukraine
on July 17 had a significant impact on food prices worldwide. After the
agreement ended, Russia launched a series of attacks on
Ukrainian ports,
resulting in the spoiling of around 60,000 tonnes of grains. The Russian
Ministry of Defense declared that all cargo ships in the Black Sea heading to
Ukraine are potential military targets.
Ukraine is one of the world's largest exporters of
food crops,
including sunflower oil, barley, corn, and wheat.
The termination of the grain agreement had a profound effect on
global food markets, causing sharp increases in wheat prices in both European
and
American wholesale markets.
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