Bangladesh plans to resume Ukrainian wheat import

War-hit Ukraine has started grain exports and Bangladesh is planning to resume wheat import from the country. Since the beginning of the Russian invasion of Ukraine_ grain export from Ukraine was fully blocked. But the bar is now cleared and Bangladesh now can import wheat and other goods from the both countries.

Since the invasion_ Bangladesh had to import wheat from Russia. But complexities on import payments to Moscow persist with its banks disconnected from SWIFT.

On the other hand_ importing Ukrainian grains has no such bar  it is possible to bring in grains from the country through both government and private initiatives.
 
The resumption of Ukraine grain shipments is a good opportunity for the South Asian country. Md Ismiel Hossain_ Food Secretary of Bangladesh told_ "We will resume imports from Ukraine after completing necessary discussions as soon as possible."
 
As the first ship carrying Ukrainian grains safely left the Black Sea port on Monday since the war_ brightening hopes and unblocking a major food corridor_ options are now wide open for Bangladesh to ensure Ukrainian wheat import as well.

Russia and Ukraine_ the two global food baskets_ together are the biggest sources for Bangladesh. If the two-week trial time goes well_ caravans of ships stuck in the Black Sea with millions of tonnes of food grains are expected to begin moving towards destinations throughout the world.

Bangladesh is also trying to procure wheat from Belarus_ Kazakhstan_ Serbia_ Canada and India.

Russia and Ukraine signed a grain deal on July 22_ brokered by Turkey and the UN_ to allow exports of grain from blockaded Ukrainian ports amid a global food crisis. The deal is set to last for 120 days.

In FY21_ Bangladesh's wheat procured from Ukraine stood at 23 lakh tonnes_ which was a little over 17 per cent of its total imports_ while its sourcing from Russia accounted for close to 21 per cent. And_ 24 per cent of its wheat supplies came from India in the fiscal year.

According to food ministry sources Bangladesh is now importing 1 lakh tonnes of wheat in two shipments from Argentina through two Singapore-based companies. Bangladesh has to pay $11.9 per bushel (25 kg).

But now_ it is good news for Bangladesh as well as for the whole world that Ukraine has resumed the grain exports_ which will help Bangladesh get benefits from price drops_ importers say.