Global Food, Fertilizer Prices Continue to Fall, But Local Volatility Remains
The FAO Food Price Index continued to decline in March, dropping by 2.1 percent from the previous month. The Index has fallen by almost 21 percent since March 2022.
The Russia-Ukraine war’s impact on global food markets: A historical perspective
The Russia-Ukraine war has focused global attention on the key economic roles that those countries play as major exporters of agricultural commodities. Over 2019-2021, they accounted for 12% of global agricultural trade on a kilocalorie basis, with a combined market share of 34% for wheat, 26% for barley, 17% for maize, and 75% for sunflower oil. The war has scrambled this picture, with Ukraine’s exports falling dramatically, and Russia’s falling, then recovering.
FSP Launches New Courses on Economic Modeling
The Food Security Portal E-learning Platform has launched two new courses: “General Equilibrium Models – an Introduction” and “Advanced General Equilibrium Models.”
Led by IFPRI Senior Researcher Antoine Bouet, these courses will introduce participants to computable general equilibrium (CGE) modeling, a powerful tool for analyzing a wide range of food policy issues at both the country and the global level.
Regional war, global consequences: Mounting damages to Ukraine’s agriculture and growing challenges for global food security
Russia’s all-out war on Ukraine has inflicted devastating impacts that continue to mount more than a year after the invasion. As of September 2022, even before Russia’s winter bombing campaign, the total damage to Ukraine’s infrastructure was an estimated $127 billion, equal to 64% of the country’s 2021 GDP. More than 14 million Ukrainians have left their homes, including more than 8 million refugees.
Price Insulation And Global Wheat Markets
The real global price of food surged in 2022, reaching well above the previous peak seen in the 2011 food price crisis. While prices declined somewhat in July 2022, they remain alarmingly high, and some countries have enacted policies, such as export bans, to try to rein in prices on their domestic markets.