IMF warns of sharp increase in grain prices ...News

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IMF warns of sharp increase in grain prices
The termination of the Black Sea grain deal could send prices up by 15%, the agency’s chief economist reportedly said Global grain prices could jump by as much as 15% after Russia declined to renew the Black Sea Grain Initiative last week, Bloomberg reports, citing the IMF’s chief economist. Pierre-Olivier Gourinchas told reporters on Tuesday that the Black Sea Grain Initiative was “very instrumental” in ensuring ample grain supply in the last year, and the termination of the agreement is “likely to put upward pressure on food prices.” While the IMF is still assessing its forecasts on the potential effects of Russ

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