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UN: Food price index to hit new high due to disruptions from Ukraine

  • By Al Mayadeen Net
  • Source: Agencies
  • 8 Apr 2022 21:51
1 Min Read

The Food Price Index reaches an all-time high because of export disruptions from Ukraine and Russia.

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  • Vegetable oil prices increase by more than 23% from February to March
    Vegetable oil prices increase by more than 23% from February to March

The Food Price Index reached an all-time high in March because of disruptions in exports from Ukraine and Russia, the UN's Food and Agriculture Organization (FAO) said on Friday.

FAO's Food Price Index was up 12.6% from February, averaging 159.3 points in March, marking its highest level since the organization began in 1990. 

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The surge in prices was due to the global rise in prices of wheat and coarse grains, driven by export disruptions from Ukraine and Russia (to a lesser extent).

The highest registered rise was marked in vegetable oils, which were up more than 23% from February to March, also due to the war in Ukraine.

Russia and Ukraine account for more than 70% of sunflower seed production.

The price of sugar also rose more than 20% from March 2021 due to the increase in global crude oil prices, thereby increasing expectations of sugarcane use for ethanol production in Brazil. 

  • Ukraine crisis
  • United Nations
  • Food Prices
  • Ukraine
  • FAO

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