Cargill Inc., the leading global trader of agricultural commodities, has expressed optimism that the deal allowing ships to navigate the Black Sea will be extended, due to the increase in grain exports from Ukraine.

The rise in corn, wheat, and barley shipments from Ukraine has contributed to the decrease in world food prices, which hit a record high in 2022.

Cargill Chairman David MacLennan is confident that the UN-brokered export pact, which expires on March 18th, will be renewed based on this trend.

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