Millers’ $22,2bn Wheat Float On Red Sea In 40 Ships
About 50 ships with between 22 and 24 million tonnes of wheat valued at $22.2 billion ordered by flour millers in Nigeria and others in the continent are still in the Ukrainian ports waiting for a green light to sail.
The vessels were blocked from sailing on the Red Sea despite the requests of some African leaders in the African Union (AU) to President Vladimir Putin to open the sea for the vessels.
At $926.75 per tonne of the current global price of the produce, and at the current exchange rate of over N600 in Nigeria, over N13.3 trillion worth of wheat in about 50 ships are currently stranded in the Ukrainian ports awaiting evacuation to Africa, particularly, parts of the Middle East and North Africa.
The continued refusal by President Putin and the Russian troops has caused a wheat shortage in the African continent, including Algeria, Egypt, Nigeria, and others.
Former Nigerian Ambassador to Russia, Jubrin Dada Chinade noted that the ongoing war in Ukraine had fueled a shortage of food security globally, mostly in Africa, with Nigeria, not spared over the dependent on Russia and Ukraine for food security.
Chinade explained that the war persists without a diplomatic solution, and could worsen food security globally.
On the adverse effects of the Russia/Ukraine war on Africa’s economy, the former ambassador said: Only recently the Chairman of the African Union (AU), Macky Sall of Senegal had a fruitful meeting with President Vladimir Putin in Sochi with the aim of finding out opportunities for the ships because Russia blocked the Red Sea where well over 40 ships are waiting to evacuate wheat and other food items to Africa, particularly, parts of the Middle East and North Africa, Algeria and Egypt have been heavily hit of wheat shortage and our President of the AU and Senegal President was in Sochi, Southern parts of Russia to meet President Putin with the view to allowing some of these ships to bring out the food, rice or the Wheat to Africa. And I think negotiations are quite useful. But negotiations are taking time on the war resolution.”
According to the former diplomat, one of the things the world is hoping for is that Putin’s green light will unlock and get those grains out of the Ukrainian ports, the 22 million-24 million tonnes of wheat that we are talking about at the Ukraine ports.
“Realistically I think even the metric tonnes of wheat how, we can handle it and how the Russians are able to appreciate and understand the increasing food and security in the continent of Africa and chance of finding solutions together would be an important discussion in the dispute.
He expressed disappointment with the United Nations for the level of engagement in finding a solution to the crisis. These are war crimes and this could lead to a third world war. These are Nuclear powers; America, Britain, France, and Germany against Russia. Russia is all nuclear power nations in the world. And the level of consultation and implication for Russian security is so deep-rooted there must be a solution. And I believe if the World leaders particularly among the UN have been crippled by the security council because Russia is a member of the security council and it could lead to a veto if the thing is not in their interest and America too could lead a veto if it is not in their interest too.”
On Nigerians studying in Ukraine, he said, 5,000 Nigerian students were studying in Ukraine with Kano having about 400 students there. Ukraine’s educational system is one of the best in Europe. Also, 50 embassies are returning to Kyiv for opening operations.
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