The continuous Russian invasion of Ukraine has worsened the existing supply chain problems affecting several major countries and continents worldwide for months. These disruptions have resulted in higher costs for consumers, leading to a global increase in food prices, particularly in edible oils, grain-based products like breakfast cereals, and packaged meats.
According to the UN Food and Agriculture Organization, their monitoring tool for tracking changes in general food commodities, the Food Price Index, saw a nearly 13% rise by the end of March. Russia and Ukraine collectively supply a significant portion of the world’s grain products, but with Ukraine focused on defending itself and Russia facing sanctions, both countries are unable to maintain their usual trade operations.
In addition to the surge in prices at supermarkets in first-world countries such as the United States, these price hikes could disproportionately impact people in poorer nations that lack financial resources and food infrastructure. An FAO spokesperson expressed concerns to The Guardian, stating, “The higher prices are particularly worrisome for countries already grappling with other crises, such as conflicts, natural disasters, economic challenges, or a combination of these factors.”
World food prices surged nearly 13% in March to a new record high due to disruptions in markets for staple grains and edible oils caused by the war in Ukraine, the U.N. food agency reported. pic.twitter.com/t0Dk0YELk2
— Reuters (@Reuters) April 8, 2022
The spokesperson added, “[Price] increases are most significant in countries where a high proportion of disposable income is spent on food. In these cases, vulnerable populations are likely to skip meals, opt for less nutritious foods, or resort to other coping mechanisms, leading to long-term impacts on their health and well-being.”
The FAO is currently formulating plans to urge other major nations to provide assistance to these impoverished regions until stable supply chains can be reinstated.
