Russia’s exit from grain deal puts focus on Asia’s food prices

Russia's exit from the Black Sea grain deal has raised concerns about global food security [File: Mehmet Emin Caliskan/Reuters]

Kuala Lumpur, Malaysia – Russia’s withdrawal from the Black Sea grain deal is expected to drive food prices higher in Asia but the impact will be muted for now, analysts say, due to reduced imports from Ukraine and increased supply from other countries.

Under the Black Sea deal, Asia received 46 percent of shipments of grains and other foodstuffs, while Western Europe and Africa took 40 percent and 12 percent, respectively.