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Food Prices Climb to Record as Ukraine War Roils Trade

  • UN index of food costs increased almost 4% last month
  • Crop prices spiked much higher in recent days on supply fears
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War Sparks Deepening Food Supply Fears
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Global food prices jumped to a record last month, just as Russia’s invasion of Ukraine started causing chaos in global crop trading that will likely push costs up even more.

A United Nations’ index of costs was already near a peak set in 2011 before the war disrupted exports out of the Black Sea region that’s known as the world’s breadbasket. Since then, grain and vegetable-oil prices have rocketed to fresh records or multiyear highs, piling more inflationary pressure on consumers and governments and threatening to worsen a global hunger crisis.