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It can be said that the challenges in the Black Sea grain trade have reached their peak.

Bunge announced that it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group.

France's transport minister said on Sunday he would sign an agreement with Romania to help increase Ukrainian grain exports to developing countries including to the Mediterranean.

Conflict, weather extremes, economic shocks, the lingering impacts of COVID-19, and the ripple effects from the war in Ukraine push millions of people in countries across the world into poverty and hunger – as food and fuel price spikes drive nations closer to instability says new hunger hotspots report.

The Russia-Ukraine conflict has severely affected food production, sending prices soaring worldwide. It has also triggered protectionism of food products in many countries. After India, major EU food exporting nations such as Hungary have halted the export of certain crops. “We have about 22 countries now with 41 export restrictions or prohibitions on food,” said Ngozi Okonjo-Iweala, the head of the World Trade Organisation.

The Brazilian government cut import tariffs for several categories of goods, focusing on food staples in an attempt to reduce consumer inflation. Import tariffs on beef, chicken, corn, wheat flour, wheat, cookies and bakery products were eliminated through the end of the year.

The Food and Agriculture Organization of the United Nations (FAO) is calling for a global Food Import Financing Facility (FIFF) to help poorer countries deal with surging prices as a result of the war in Ukraine.

Amid the Russian invasion, Ukraine declared sowing campaign. Ukrainian authorities forecast that 70% of the arable land will be cultivated.