World food prices rose to record highs in March due to the war in Ukraine, which shook the grain and oil markets. This was announced today by the Food and Agriculture Organization of the United Nations (FAT), AFP reported.
The FAO Food Price Index, which reflects monthly changes in basic food basket prices, already set a record in February, reaching its highest level since its inception. In March, the figure increased by another 12.6 percent and averaged 159.3 points.
Growth is accounted for by most of the grain sub-index, which jumped by 17.1% compared to February, mainly due to the war in Ukraine.
Vegetable oils also contributed to the overall increase, rising by as much as 23.2 percent against the background of traveling sunflower oil, the largest exporter of which in the world is Ukraine.
At the same time, prices for palm, soybean and rapeseed oil are rising sharply due to increasing global demand for imports due to disruptions in oil supplies.