Global food prices soared in March, up 12.6% compared to February, an alltime high. According to the FAO, the index is influenced by the spread of the war. Global wheat prices rose 19.7%, fueled by concerns over the US crop, while corn prices surged 19.1% to a record high, along with barley and sorghum prices. The index of vegetable oil registers marked + 23.2% for the prices of sunflower oil, the main exporter of which is Ukraine.
Sugar marks +6.7% from February, at over +20% from March 2021, according to FAO findings.
Meat rose 4.8% to an alltime high, driven by rising pork prices due to a shortage in western Europe. International poultry prices are also consolidating upwards, hand in hand with lower shipments from the main exporting countries following the outbreak of bird flu. FAO Dairy Price Index increased by 2.6%, reaching +23.6% compared to March 2021, with butter and milk powder prices falling due to the increase in imports for short and longterm supplies, mainly from Asian markets. skyrocketed.
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