What's New

The October FAO Food Price Index remained largely unchanged from September, with rising cereal prices balanced by declines in the other commodity groups. The overall Food Price Index has fallen by almost 15 percent from March 2022 but remains 2 percent above its October 2021 levels.

Russia’s October 29 announcement that it was suspending its participation in the Black Sea Grain Initiative—which allows shipments out of Ukrainian ports—was not a surprise; Russia had been skeptical of the deal since the start. But now the supply disruptions will begin again: the move will have a negative impact on Ukraine, its customers, on world market prices—and global food security, particularly for countries in the Middle East and North Africa (MENA) region.

Even as the effects of the COVID-19 pandemic dissipate, the world continues to face a severe food security crisis, exacerbated by the ongoing Russia-Ukraine war, putting it further off track to achieve Sustainable Development Goal 2—ending hunger and malnutrition in all its forms by 2030.

After the sharp rise in international prices of wheat and other staple foods in the wake of Russia’s February invasion of Ukraine, since May prices have fallen back to pre-war levels. Has the global food price crisis now come to an end? Unfortunately, such a conclusion is premature. Domestic food prices for consumers continue to rise in most countries. Meanwhile, ongoing uncertainties—not the least of which is the continuing war—augur for continued turmoil in global food markets.

Climate change poses a growing threat to efforts to build sustainable food systems. The COVID-19 pandemic and the current Ukraine crisis have further exacerbated global food and nutrition insecurity, leading to significant increases in poverty, hunger, and malnutrition. A July 18 launch event for IFPRI’s 2022 Global Food Policy Report (GFPR) in Kathmandu, Nepal, explored the potential for more effective policies and programs focused on climate impacts and food systems.