Wheat prices have been soaring once again after Russia announced that it will not renew a UN-brokered deal, which was agreed upon in July of 2022.
The deal was meant to help stabilize global wheat prices after they started to rise following the beginning of the Russia-Ukraine war.
According to the agreement, Russia has allowed Ukrainian wheat to be exported via the Black Sea without targeting the ships carrying it.
Russia says although it has abided by its part of the deal, other sides have not fulfilled their end of the bargain, and there will be no extension of the deal until Moscow's demands are met. We have discussed this issue with our guests in the Spotlight program.