FAO: global food prices could raise by 8 to 22 percent as a result of the Russian invasion

Russian-Ukrainian war raises global food prices

The FAO predicts that “the potential effects of a sudden and sharp decline in cereal and sunflower exports from the two countries in the 2022/2023 agricultural season will only be partially offset by alternative sources”. The production and supply capacity of many other exporting countries could be limited by high production and input costs, the organization said in a statement that “the resulting global supply shortfall could increase already rising international food and feed prices by 8-22 percent.” (MTI)