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Global Food Prices Stay Near Record as Ukraine War Upends Trade

  • Record fertilizer, energy costs are keeping food prices high
  • UN gauge of global food costs edged down 0.6% in May
Bloomberg business news
Why is the Price of Chicken so Expensive?

Global food prices stayed near a record as Russia’s invasion of Ukraine disrupted trade, fueling hunger and worsening a cost-of-living crisis.

Russia’s invasion has sharply reduced exports from Ukraine, one of the world’s biggest grain and vegetable oil shippers. The blockade of key Black Sea ports has exacerbated supply-chain turmoil, sending prices soaring and prompting the United Nations to warn that food shortages may spur millions of people to migrate.