Food costs reach peak records due to Russia-Ukraine conflict| MENAFN.COM

Saturday, 25 June 2022 10:29 GMT

Food costs reach peak records due to Russia-Ukraine conflict


(MENAFN) Nations across the world have been taking protective procedures as worries of a international food inflation catastrophe increase.

This has driven food costs to peak records, with the UN Food and Agriculture Organization's (FAO) Food costs Index increasing 12.6 percent two months ago compared to the prior month, and 33.6 percent against March last year -- an all-time high.

The index displayed that wheat costs have raised by more than 60 percent since the start of 2022.

In line with World Trade Organization numbers, throughout the epidemic, the EU, Argentina, Anguilla, Bolivia, Brazil, Cambodia, Colombia, Egypt, El Salvador, Poland, Romania, Gambia, Indonesia, Mongolia, North Macedonia, Serbia, Switzerland, as well as Uzbekistan have taken actions such as suspension of exports and lifting of import tariffs.

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