From grain and corn to edible oil, India will feel the food ripples of Ukraine's crisis

Published 2022년 3월 9일

Tridge summary

The article highlights the global food crisis resulting from Russia's war on Ukraine, with the FAO's food price index reaching its highest in 32 years. The conflict has disrupted third-party countries like India, leading to domestic food inflation and challenges in procurement and distribution. India, a key producer of surplus wheat and rice, faces pressures on its central pool stocks and export capabilities, while experiencing lower inflation rates in rice prices and challenges in corn and edible oil imports due to the war. The article also touches on the potential impact on petroleum prices post-election in various Indian states.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Listen to this article: Dictators harm their own countrymen and women in innumerable ways. At times they cause global havoc. This time, the international order itself is under threat. The emerging food crisis is only one of the dimensions of Russia's war on Ukraine. While the short-term implications are disastrous for economies across the globe, the ensuing arms race will squeeze even the budgets of developed nations. The poor will bear the brunt of lower allocations for development and welfare. India may be no exception. Globally, the food price index has already reached the highest it has ever been in the last 32 years – FAO's food price index in February 2022 was 140.7, the highest since January 1990 (Figure 1). The global food inflation rate continues to be in double-digits (Figure 2), building on the double-digit inflation last year. Figure 1: FAO's Food Price Index (%) Base 2014-16 Source: FAO Figure 2: FAO's Food Price Index inflation rates (%) Source: FAO Domestically too, ...

Source: TheWire