FAO says world food prices hit an all-time high over Ukraine war
April 8, 2022, 12:14 pm

FAO says world food prices hit an all-time high over Ukraine war

FAO says world food prices hit an all-time high in March as Russia's invasion of Ukraine sent "shocks" through markets for staple grains and vegetable oils (File photo: Pixabay)

The Arab News reported, citing the AFP, the UN's Food and Agriculture Organization said Friday (Apr 8) that world food prices hit an all-time high in March as Russia's invasion of Ukraine sent "shocks" through markets for staple grains and vegetable oils.

The disruption in export flows resulting from the February 24 invasion and international sanctions against Russia has spurred fears of a global hunger crisis, especially across the Middle East and Africa, where the knock-on effects are already playing out.

Russia and Ukraine, with vast grain-growing regions that are among the world's main breadbaskets, account for a huge share of the globe's exports in several major commodities such as wheat, vegetable oil and corn.

The FAO said in a statement: "World food commodity prices made a significant leap in March to reach their highest levels ever, as war in the Black Sea region spread shocks through markets for staple grains and vegetable oils."

Russia and Ukraine account for a huge share of the globe's exports in several major commodities such as wheat, vegetable oil and corn (File photo: Pixabay)

The UN agency said, the FAO's food price index, which had already reported a record in February, surged by 12.6 percent last month, "making a giant leap to a new highest level since its inception in 1990".

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The index, a measure of the monthly change in international prices of a basket of food commodities, averaged 159.3 points in March.

Source: arabnews

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Upon arriving to participate in the summit of the European Political Community, which includes around forty heads of state in Budapest, he said, "I look forward to sitting with the elected U.S. president and seeing how we will collectively ensure we meet challenges, including the threats from Russia and North Korea." He also noted that the strengthening of ties between Russia and North Korea poses a threat to the United States as well, according to reports from Agence France-Presse.

Before Trump's victory, Rutte expressed confidence that a united Washington would remain part of the defensive alliance, even if Trump became the 47th president of the United States. In an interview with German public broadcaster ZDF last Monday night, he stated that both Republicans and Democrats understand that NATO serves not only the security of Europe but also that of America. He added that both candidates are aware that the security of the United States is closely tied to NATO.

On Wednesday, NATO congratulated Trump on his victory but did not address the Ukrainian issue.

It is noteworthy that the relationship between the elected U.S. president and the defense alliance was not the best during his first term in the White House. Trump criticized NATO member states multiple times and even hinted at withdrawing from the alliance unless they increased their financial contributions.

Additionally, the issue of the Russian-Ukrainian war is one of the matters that complicate relations between the two sides, especially since Trump has repeatedly stated that he can end this ongoing conflict, which began in 2022, quickly. He implied that he had a peace plan between Kyiv and Moscow, while his vice president, JD Vance, revealed aspects of that plan, which stipulated Ukraine's commitment not to join NATO, thereby sending reassuring signals to the Russians.

Furthermore, many NATO member states in Europe fear that Trump might halt military aid to Ukraine after he previously criticized the U.S. for pouring funds into supporting Ukrainian President Volodymyr Zelensky.