Skip to content

Global food prices jump after Russia scraps U.N.-brokered grain deal

Increasing rice prices from India's ban “raises substantial food security concerns for a large swath of the world population."

Rice fields in Bali, Indonesia
Rice fields in Bali, Indonesia (AN/Sebastian Pena Lambarri/Unsplash)

Food prices notched a 1.3% monthly increase with Russia's suspension of a wartime deal that allowed Ukrainian food shipments to reach global markets and India's ban on exports of non-Basmati white rice.

The Food and Agriculture Organization's Food Price Index, which shows the monthly change in global prices of food commodities, rebounded in July mainly due to the rising price of rice and vegetable oils. The last such increase was in April due to higher sugar prices.

This article is for paying subscribers only

Join now

Already have an account? Log in