The article highlights the significant rise in food prices across various commodities such as grains, meat, and oil, largely attributed to increased energy and fertilizer costs, and the impact of crises in Russia and Ukraine. Countries like India, Ukraine, and Indonesia have imposed export bans, leading to further disruptions and price surges. The United Nations Food Price Index shows that global food prices are 75% higher than pre-pandemic levels. The situation is worsened by the pandemic-related labor shortages and the Russo-Ukrainian conflict's impact on wheat prices. The article also discusses the potential impact of rising rice prices, given the fifth consecutive month of price increases, and the risks of protectionism. It points out that the high energy costs required for rice production could lead to higher market prices, which could benefit farmers but could also negatively affect Asian consumers, given rice is a staple food in the region. Vietnam has seen a significant increase in rice exports in May.