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Food Prices Hold Near Record as Ukraine War Upends Trade

  • United Nations food index eased less than 1% in April
  • Food trade has been roiled by Russia’s invasion of Ukraine
Freshly-baked loaves of bread and pizzas on sale inside the store of a bakery in Rome, Italy.

Freshly-baked loaves of bread and pizzas on sale inside the store of a bakery in Rome, Italy.

Photographer: Alessia Pierdomenico/Bloomberg
Updated on

Global food prices held near a record as crop trade is disrupted by the war in Ukraine, exacerbating tight supplies and stoking inflation. 

Russia’s invasion has reduced exports from Ukraine to a trickle, curbing supplies from one of the world’s biggest grain and vegetable oil shippers. That’s sent buyers flocking elsewhere, while some nations are moving to restrict sales as they worry about depleting local reserves.