Ukraine invasion
Help vulnerable nations buy food, FAO chief asks rich countries
The world should create a fund of up to $25 billion to help poor nations deal with the surge in food prices caused by Russia’s invasion of Ukraine, said the head of the UN Food and Agriculture Organization on Wednesday. The FAO estimates that an additional 13 million people will face hunger in the near term because of warfare in the Black Sea region, ordinarily a major source of wheat and corn on the world market.
War drives UN food index to highest level ever
The UN index of food prices, already at a record high, rose by 12.5 percent in reaction to Russia's invasion of Ukraine, with world wheat prices soaring nearly 20 percent, said the Food and Agriculture Organization. Wheat prices were so high, said USDA analysts in a separate report, that consumers in sub-Saharan Africa may find it cheaper to eat rice, ordinarily the more expensive staple grain.
Ag poll: War in Ukraine means higher U.S. farm costs
The largest U.S. farmers and ranchers say the Russian invasion of Ukraine, with its disruption of grain, oil and fertilizer shipping, will drive up their costs of production, according to a Purdue University poll released on Tuesday. The Ag Economy Barometer also showed big operators are tempering somewhat their expectations of soaring input prices.