Cooking oils, cereals and meats reached all-time highs, meaning food costs a third more than the same period last year, according to the Food and Agriculture Organization’s monthly food price index released on Friday. The Russia-Ukraine war has disrupted Black Sea exports of commodities from a region that produced more than a quarter of world wheat exports. The war helped raise grain prices by 17% last month by closing ports that restricted grain and corn exports from Ukraine. Russian exports have also slowed due to economic and shipping problems. World wheat prices rose 19.7% in March, while corn prices rose 19.1% on a monthly basis, setting a record high with barley and sorghum. The FAO said these problems are likely to persist, leading to higher prices, lower stocks and uncertainty in the wheat market in the future. “Higher prices are particularly worrying for countries already experiencing other crises, including conflicts, natural disasters, economic conditions or, as is often the case, a combination of these,” said a FAO spokesman, adding that low-income countries and food shortages could find it difficult to pay higher prices. “[Price] The increases are most pronounced in countries where the share of disposable income spent on food is highest. “In these cases, the most vulnerable are likely to skip meals, buy less nutritious foods or use other coping strategies, which will have long-term effects on their health and well-being.” Joseph Glauber, a senior fellow at the International Food Policy Research Institute, said that before the invasion, prices were already close to record highs due to limited global supplies. “The projected stock levels have already been low in recent years, which means that there are few supplies available to offset the effects of declining exports from the Black Sea,” he said. IFPRI estimates that Ukraine and Russia accounted for 12% of the world’s calories. Glauber said instability in food prices was felt everywhere. Countries that were heavily dependent on wheat from Russia and Ukraine may need to turn to the EU, the US, Australia, Canada and Argentina for wheat supplies. “Many of these countries are located in North Africa and the Middle East, where wheat often accounts for up to 35% of the total calories consumed and the majority of wheat is imported, much of it from the Black Sea,” he said. The Black Sea region has also been a critical source of sunflower oil, and export cuts have resulted in vegetable oil prices rising by almost a quarter since February. Prices also rose for palm oil, soybeans and rapeseed oil due to increased demand. Earlier this week, the World Food Program said the impact of stalled exports would hit many countries in East Africa, including Kenya, Ethiopia, Somalia and South Sudan – countries already facing severe drought and conflict. The WFP said the price of local food had risen by a quarter, on average, compared to last year, but had reached 92% in Sudan. He also warned that East African countries are completely dependent on imports of fertilizers, for which Ukraine and Russia are also a major source, and that the disruption could affect local production and further increase food prices.
