30.5 C
Bengaluru
Saturday, May 28, 2022
spot_img

UN says, Russia-Ukraine war caused food inflation to jump globally

PLEASE - DONATE - AND - SUPPORT

The United Nations’ Food and Agriculture Organization has released a report claiming that the Food Price Index has reached an all-time high in March largely due to export disruptions from Ukraine and Russia.
The ongoing war between Russia and Ukraine has reportedly made a drastic impact on food being supplied to various countries of the world.

The United Nations’ Food and Agriculture Organization has released a report claiming that the Food Price Index has reached an all-time high in March largely due to export disruptions from Ukraine and Russia.

“The FAO Food Price Index (FFPI) averaged 159.3 points in March 2022, up 17.9 points (12.6 per cent) from February, making a giant leap to a new highest level since its inception in 1990,” the update said. “This month’s increase reflected a surge in world prices of wheat and coarse grains, largely driven by conflict-related export disruptions from Ukraine and, to a lesser extent, the Russian Federation.” Concerns about overcrop conditions in the United States also contributed to a sharp rise in wheat prices in March, the update showed. The sharpest rise was in the price of vegetable oils, which increased by more than 23 per cent from February to March, also due largely to the situation in Ukraine. Russia combined with Ukraine accounts for almost 70 per cent of sunflower seed and safflower oil production, according to the Observatory of Economic Complexity, the update also showed. The price of sugar is up more than 20 per cent from March of 2021 due mainly to an increase in international crude oil prices, which raised expectations of greater sugarcane use for ethanol production in Brazil, according to the update.

The Middle Eastern nations are already facing problems with the import of food items such as wheat as these countries were heavily depending on Russia and Ukraine for wheat. But after the war, these countries are believed to be mulling to import wheat from other nations which could increase the transportation cost. This will put additional financial burden on the countries.

Independent journalism can’t be independent without your support, contribute by clicking below.

ಸತ್ಯದ ಪಥಕ್ಕೆ ಬಲ ತುಂಬಲು ದೇಣಿಗೆ ನೀಡಿ. ನಿಮ್ಮಗಳ ಬೆಂಬಲವೇ ನಮಗೆ ಬಲ. ಈ ಕೆಳಗಿನ ಲಿಂಕ್ ಮೂಲಕ ದೇಣಿಗೆ ನೀಡಿ

स्वतंत्र पत्रकारिता आपके सहयोग के बिना स्वतंत्र नहीं हो सकती, नीचे क्लिक करके अपना योगदान दें।

PLEASE - DONATE - AND - SUPPORT

spot_img

Azad Times
________________________________________________
Disclaimer: This Story Is Auto-Aggregated By A Computer Program And Has Not Been Created Or Edited By Azad Times.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

56,806FansLike
69,877FollowersFollow
98,755SubscribersSubscribe
- Advertisement -

State News

National News

international News

This is the title of the web page
This is the title of the web page