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.
Assessing tight global wheat stocks and their role in price volatility
The Russia-Ukraine war has caused significant price volatility in agricultural markets over the past year—for wheat, in particular, price levels and price volatility reached the highest levels since the 2007/08 marketing year. Both have fallen back to pre-war levels over the past six months, but volatility remains high relative to historical levels (Figure 1), indicating that significant market uncertainty remains, creating ongoing vulnerability for global food security.
The Russia-Ukraine war after a year: Impacts on fertilizer production, prices, and trade flows
Russia’s 2022 invasion of Ukraine triggered global disruptions in markets for key food crops and fertilizers, threatening food security worldwide. With the war now entering its second year, high international food prices have moderated, though domestic price levels remain high in many low- and mid-income countries. Here, we turn to global fertilizer markets, examining how they weathered the past year and the likely impacts going forward for agricultural production and food security.
Food, Fertilizer Prices Decline in February
The FAO Food Price Index continued to drop slightly in February, reaching almost 19 percent below its March 2022 peak. This represents the eleventh consecutive month of decline.
Ukraine One Year Later: the impact of the war on agricultural markets and food security
One year after Russia invaded Ukraine, the war continues to affect global markets. World stock levels remain tight, and while prices have fallen back to pre-war levels, much uncertainty remains. This seminar will examine how the war has affected global markets, particularly wheat markets. Speakers will discuss the war’s impacts on Ukraine’s producers, wheat buyers and importers in the MENA region, and households in Egypt and Yemen. In addition, the discussion will address export restrictions and sanctions that have exacerbated price levels and volatility.
Impacts of Global Shocks on Poverty, Hunger, and Diets
Please join us for a presentation by Xinshen Diao and James Thurlow with the International Food Policy Research Institute (IFPRI) on their latest round of country impact modeling.
This analysis examines the impact of recent and potential global shocks on poverty, hunger, and diets across 17 countries. These shocks include the COVID-19 pandemic, high global commodity prices, and a potential global economic slowdown in 2023.
Food, fertilizer prices fall, but concerns over inflation remain
Food prices fell by 0.8 percent in January, according to the FAO Food Price Index. This latest decline brings the Index to the lowest point seen since its peak in March 2022.
Is food price inflation really subsiding?
Almost a year after the February 2022 Russian invasion in Ukraine, fears of a period of sustained high global food prices have subsided somewhat, but eight major concerns for food security remain.
Cereal, Vegetable Oil Prices Reached Record High in 2022: FAO Food Price Index
The FAO Food Price Index continued its nine-month decline in December 2022, falling by an additional 1.9 percent. The decline was driven mostly by falling vegetable oil, cereal, and meat prices. However, overall in 2022, the Index was over 14 percent higher than its 2021 level, reflecting continued high prices driven by conflict, climate, and market concerns.