With just days to go until the latest period of the Black Sea Grain Initiative was due to expire, Russia has agreed to a 60-day extension, which is half the number of days agreed when it first expired in November.

The shipping pact between warring neighbours Ukraine and Russia was brokered last summer by the United Nations.

“The continuation of the Black Sea Grain Initiative is crucial for global food security, as grain and fertilizer prices and availability have not returned to pre-war levels, causing hardship particularly in developing countries”, a statement from the United Nations noted yesterday.