Russia-Ukraine food grain agreement has changed the statistics of food grain prices in the world market.
In March-April this year, the price of food grains was sky high.
But now the price of food grains has fallen so much that it has broken the record of last 14 years. News Bloomberg.
According to the United Nations Food Index, the price of food grains decreased by 9 percent last month.
The recession that was caused by this is slowly disappearing.
At the beginning of the year, the United Nations predicted a major famine in many countries of the world in the wake of the Russia-Ukraine war.
- Severe food shortages can occur, especially in underprivileged countries like Africa.
- But after the Russia-Ukraine agreement, the international organization is seeing hope in this regard.
When the world’s two largest wheat exporters clashed in the latter half of February, world wheat prices began to rise almost immediately.
- In addition, if Ukraine completely stops the export of wheat, the price of food products will increase in countries like Europe.
- This led to record inflation in Western countries.
According to the Food and Agriculture Organization of the United Nations (FAO), food prices will fall further as seasonal crops begin to grow in Argentina and Brazil.
- Even if this does not stop the war immediately, the food market will gradually return to normal.
Earlier, on the 1st of this month, the first shipment of wheat from Odesa port in Ukraine started its journey to Turkey.
- Three more ships are expected to leave Odessa port on Friday (August 5).
Ukrainian President Zelensky said that the food grains carried from Odessa will be sent to Africa, Middle East and other countries of the world
Meanwhile, although the price of food grains has decreased in the world market,
its impact has not been felt in African countries so far.
According to the information provided by the United Nations,
about 10 million people in different regions of Africa are suffering from food insecurity, spending their days in starvation.
Many food companies around the world have not said anything clear about reducing food prices so far.
However, popular food manufacturer Ocado Group said that consumers are turning to cheaper food.
In this case, keeping in mind the demand, they will reduce the price of food.
Food insecurity has been created in different regions of the world since the Corona period.