Tag: Food
WTO warns of ‘real’ recession risk in some major economies
World Trade Organization head Ngozi Okonjo-Iweala cautions about recession risks in key economies, highlighting challenges from Ukraine conflict, rising food and energy prices, and global inflation pressures.
Food prices soar to record levels on Ukraine war disruptions
The UN Food and Agriculture Organization reports food prices hit unprecedented levels in March, with grains and vegetable oils experiencing significant price increases. Russia's invasion of Ukraine has caused massive supply disruptions, potentially leading to widespread hunger and malnutrition in vulnerable regions.
European inflation soars to a record 7.5% on fuel, food costs.
Eurozone consumer prices surged to a record 7.5% in March, marking the highest inflation rate since 1997. Rising energy and food costs, fueled by the conflict in Ukraine, are squeezing household budgets and forcing central banks to consider aggressive monetary policy responses.
Biden pledges new Ukraine aid warns Russia on chemical weapons.
President Biden and Western allies announced new sanctions and humanitarian support for Ukraine, pledging $1 billion in supplies and offering to welcome 100,000 Ukrainian refugees. Leaders discussed potential responses to potential chemical or nuclear threats from Russia.
Ukraine reports 300 dead in airstrike on Mariupol theater
In a devastating attack, Russian forces bombed a Mariupol theater sheltering civilians, killing approximately 300 people. Ukrainian officials claim this as potentially the war's most significant civilian casualty incident, highlighting alleged Russian war crimes during the ongoing conflict.
Ukraine war imperils wheat, but farmers are in no rush to...
The ongoing conflict between Ukraine and Russia has dramatically impacted global wheat markets, threatening food security in multiple regions. With wheat prices surging by a third since the invasion, farmers are cautiously considering expanding wheat production to capitalize on market conditions while navigating challenges like drought and increasing fuel costs.
High energy costs trigger unrest in parts of Europe.
High energy costs are sparking widespread protests across Europe, with Spain deploying over 23,000 police to control demonstrations. Truckers and farmers in France, Greece, and Spain are blocking highways and challenging authorities, driven by skyrocketing fuel prices and economic pressures from Russia's war in Ukraine.
Russia-Ukraine war in the world’s ‘breadbasket’ threatens food supply.
Russian invasion of Ukraine has paralyzed agricultural production in the Black Sea region, known as the world's "breadbasket". With ports closed and farmers displaced, wheat exports are severely impacted, potentially causing global food shortages and price increases starting July.
World food price index surges in May to the highest level...
The FAO Food Price Index reached 127.1 points in May, marking the 12th consecutive month of increases. Prices have risen 4.8% compared to April 2021 and nearly 40% since May 2020, reflecting significant global food market volatility and potential economic challenges for consumers worldwide.
