The deals, known as the Black Sea Initiative and the Memorandum of Understanding, were signed last year and allow the safe passage of Ukrainian grain and foodstuffs to world markets, as well as the export of fertilizers from Russia.

Guterres stressed the importance of full implementation of the agreements, which have contributed to reducing global food prices by more than 23% since last year.

“The renewal of these agreements is critical as the harvest season approaches,” said Guterres. “Failure to renew could result in a spike in cereal commodity prices.”

The UN Food and Agriculture Organization's chief economist, Maximo Torero Cullen, echoed Guterres's concerns, saying that the agreements are “a lifeline for global food security.”

“The world cannot afford to lose these deals,” said Cullen. “They are essential to ensuring that food reaches those who need it most.”

Guterres urged all parties involved to prioritize global food security and to renew the agreements as soon as possible.

The Black Sea Initiative is a UN-brokered agreement that allows the safe passage of Ukrainian grain and foodstuffs to world markets. The agreement was signed in July 2022 by Ukraine, Russia, Turkey, and the United Nations.

The Memorandum of Understanding is a separate agreement that allows the export of fertilizers from Russia. The agreement was signed in November 2022 by Russia, Belarus, and the United Nations.

Both agreements are essential to global food security, as Ukraine and Russia are major exporters of grain and fertilizers. The war in Ukraine has disrupted the global food supply chain, and the renewal of these agreements is critical to ensuring that food reaches those who need it most. (ILKHA)