Global food prices hit record high

Published 2022년 4월 8일

Tridge summary

The article highlights the significant rise in agricultural commodity prices, with the FAO index hitting a record high in March, increasing by 12.6% since February. This surge is primarily due to the ongoing conflict between Russia and Ukraine, the world's leading exporters of wheat and sunflower oil, which has disrupted exports from Ukraine. The war has also threatened future harvests, leading to concerns about a global food crisis. The prices of various cereals, maize, barley, sorghum, and vegetable oils, especially sunflower oil, have reached record levels due to increased global demand and supply shortages. The conflict is causing particular concern in the Sahel and West Africa, where reliance on imports of Russian and Ukrainian cereals is high, as the region faces the risk of famine. Nations like the United States and France have pledged to increase aid to address this crisis. Furthermore, Russian President Vladimir Putin has proposed monitoring food deliveries to 'hostile' countries, amidst sanctions against Russia.

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

Original content

Wheat, sunflower, but: the prices of agricultural raw materials continue to soar, against a backdrop of the stalemate of the conflict between Russia and Ukraine, the main world exporters of these foodstuffs, coupled with a threat to the next harvests . This FAO index, which tracks the monthly change in the international prices of a basket of basic food products, had already broken its record in February since its creation in 1990, and in March recorded a rise of 12.6%. In March, it was the FAO cereals index that drove the increase, with a growth of 17.1% compared to February "under the effect of strong increases in the prices of wheat and all coarse grains". The blocking of Ukrainian ports, kyiv being the world's fifth largest exporter of wheat, explains this historic high and this surge in prices since February 24, the date of the Russian invasion. From the beginning of the conflict, the Sea of Azov was closed to navigation, blocking exports from Berdiansk or even Mariupol. In ...

Source: Pleinchamp