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Record food prices could leap 22% more on Ukraine war, UN warns

Bloomberg3/11/2022 11:35 PM GMT+08  • 3 min read
Record food prices could leap 22% more on Ukraine war, UN warns
The war is likely to leave 20% to 30% of Ukraine’s crop area for the 2022 season unplanted or unharvested, UN estimates
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Record-high global food costs could surge another 22% as Russia’s assault on Ukraine stifles trade and slashes future harvests, the United Nations warned.

A report from the agency’s Food and Agriculture Organization on Friday shows the far-reaching fallout of the war on the world’s food system, with the impact set to stretch well beyond the next season. Ukraine and Russia together account for more than a tenth of all calories traded globally, and those flows have been stifled since the conflict erupted late last month.

Soaring production costs means other countries will only partly be able to compensate for the “sudden and steep reduction” in Black Sea grain and sunflower exports in the coming 2022-23 season, FAO said.

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