Global food prices climb to highest level since 2022 amid Black Sea strikes, UN reports
Grain prices spiked 2.5 points in August from the previous month, partly due to "continued uncertainty surrounding Black Sea export flows," the U.N.'s Food and Agriculture Organization reported
Global food prices surged to their highest level since 2022, with disruptions to grain exports from Russia's war against Ukraine being a primary factor, according to a report released by the United Nations Food and Agriculture Organization (FAO) on September 4. The Food Price Index (FFPI) averaged 133.3 points in August, marking its highest level since March 2022.
This increase was driven by reduced exports, higher costs, and fewer vessels willing to dock at Ukrainian ports due to persistent Russian attacks on shipping routes in the Black Sea. The FAO's index rose across all commodity groups, but remained about 16% below the peak observed during the early stages of Russia's full-scale invasion.
Grain prices climbed 2.5 points from the previous month, partly attributed to uncertainty surrounding Black Sea export flows. The FAO also lowered its forecast for global grain production, citing a 3.4 million ton decrease from the July prediction, with 2026 expected to see a 61% decline in grain production compared to the previous year.
The decline is the largest annual drop since 2018, though it still represents the second-largest harvest on record. Russia has intensified attacks on Odesa's seaports and civilian vessels in the Black Sea, aiming to disrupt Ukraine's key trade route. Ukraine, which relies on the Black Sea for 90% of its agricultural exports, saw its exports fall to 30% of its target in the first two weeks of August.
The conflict has raised concerns about a potential global food crisis, with Ukraine's Agriculture Minister Taras Vysotsky accusing Russia of "holding global food security hostage" through continued attacks on export corridors.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
