Global Food Prices Under Pressure From War and Supply Disruption

Wars in Ukraine and West Asia are putting pressure on global food prices by disrupting production and transport networks, India Global Review reported on October 19. Its account puts the rise in wheat prices at more than 30% this year, without identifying the price benchmark used.

Fighting in the Black Sea has disrupted grain shipments from Russia and Ukraine, which together account for about 17% of globally traded grain, according to the report. Higher fuel costs, droughts and floods linked to El Niño, and tighter export restrictions are adding to the pressure.

The report describes a strained supply system rather than an outright global food shortage: disruption to the networks that produce and move food is keeping prices elevated.