World food prices have been rising historically due to the war in Ukraine.
Source: The Food and Agriculture Organization of the United Nations (FAO)
“For the past 32 years, world food prices have not been as high as in March, according to the Food and Agriculture Organization of the United Nations. The war in Ukraine is one of the main causes of growth. Both Ukraine and Russia are important grain exporters.”
The rise in food prices is most felt in poor countries. Spending on basic foodstuffs, including bread, has risen.
The index by which the FAO measures the prices of many goods rose 13% in March compared to February. Especially, grain prices rose (+ 17%).
Oil prices rose by almost 25%. Ukraine is the world’s leading exporter of sunflower oil.
Earlier, the FAO said that world prices for food and feed could rise by 20%.
