Global Food Prices Surge as Drought, Climate Change, and Ukraine War Restrict Exports

Food prices are rising globally due to export restrictions from major producing countries caused by drought, climate change, and the war in Ukraine.
Onion prices in Kenya have tripled after neighboring Tanzania limited exports, forcing people to change cooking habits.
India banned rice exports earlier this year after erratic rainfall damaged crops, leading to a global rice shortage.
Olive oil prices rose in Turkey after drought in Spain prompted European buyers to turn to Turkish supplies, prompting Turkey to limit exports.
Ukraine and Russia are major wheat, barley, and sunflower oil exporters, so the war's disruption to supplies is increasing costs and reducing availability of staple foods.

voanews.com

Relevant topic timeline:

8/21/2023

Commentary: Does India’s disruption of the global rice market pose new threat to food security?

Both rice and wheat supplies are facing alarming shortages, raising concerns about a potential world food crisis, and the Indian rice export ban, along with other factors, has implications for global rice markets and prices.

9/8/2023

UN: Global Food Prices Fall to 2-Year Low in August Despite Gains in Sugar, Rice

Global prices for staple foodstuffs have reached a two-year low in August, driven by declines in dairy products, vegetable oils, meat, and cereals, while sugar and rice prices have increased due to export restrictions and extreme weather conditions.

9/8/2023

War and Weather Threaten Global Food Supplies, But Large Shortages Unlikely

Russia's blockade of Ukrainian grain exports and extreme weather events have raised concerns about global food supplies, but the OECD suggests that the situation may not be as dire as it seems, with adjustments and adaptations being made to production and logistics chains to mitigate potential shocks in the market.

9/9/2023

G20 Calls for Continued Grain Exports from Russia and Ukraine to Ease Global Food Inflation, Especially in Developing Nations

The Group of 20 nations have urged uninterrupted grain exports from Russia and Ukraine to meet the demand in developing countries and reduce global food inflation.

9/15/2023

UN Warns of 'Severe' Global Hunger Crisis With 700 Million Facing Uncertain Meals

The head of the World Food Programme warns of a severe global hunger crisis affecting over 700 million people, with an increase in food insecurity and nearly 47 million individuals on the brink of famine, urging for increased partnerships and innovative solutions to tackle hunger and poverty.

9/16/2023

Myanmar's Economy in Turmoil as Military Government Struggles to Control Inflation and Cooking Oil Supply

Myanmar is facing cooking oil shortages and inflated prices due to the military government's struggle with containing inflation.

10/5/2023

World Needs More Investment and Trade to Reignite Growth and Progress on Development Goals

The global economy is facing a range of challenges including climate change, food insecurity, and poverty, with the cost of achieving sustainable development goals rising to $4 trillion a year; however, with the right policies and global cooperation, productive investment in developing economies can be boosted to achieve these goals and overcome the current malaise.

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Posted 9/30/2023, 7:01:15 AM

Global Food Prices Surge as Drought, Climate Change, and Ukraine War Restrict Exports

Food prices are rising globally due to export restrictions from major producing countries caused by drought, climate change, and the war in Ukraine.
Onion prices in Kenya have tripled after neighboring Tanzania limited exports, forcing people to change cooking habits.
India banned rice exports earlier this year after erratic rainfall damaged crops, leading to a global rice shortage.
Olive oil prices rose in Turkey after drought in Spain prompted European buyers to turn to Turkish supplies, prompting Turkey to limit exports.
Ukraine and Russia are major wheat, barley, and sunflower oil exporters, so the war's disruption to supplies is increasing costs and reducing availability of staple foods.

voanews.com

Relevant topic timeline:

8/21/2023

Commentary: Does India’s disruption of the global rice market pose new threat to food security?

9/8/2023

UN: Global Food Prices Fall to 2-Year Low in August Despite Gains in Sugar, Rice

9/8/2023

War and Weather Threaten Global Food Supplies, But Large Shortages Unlikely

9/9/2023

G20 Calls for Continued Grain Exports from Russia and Ukraine to Ease Global Food Inflation, Especially in Developing Nations

The Group of 20 nations have urged uninterrupted grain exports from Russia and Ukraine to meet the demand in developing countries and reduce global food inflation.

9/15/2023

UN Warns of 'Severe' Global Hunger Crisis With 700 Million Facing Uncertain Meals

9/16/2023

Myanmar's Economy in Turmoil as Military Government Struggles to Control Inflation and Cooking Oil Supply

Myanmar is facing cooking oil shortages and inflated prices due to the military government's struggle with containing inflation.

10/5/2023

World Needs More Investment and Trade to Reignite Growth and Progress on Development Goals