Commodity prices moderating but food crises far from over (The Farmers Journal)
- Impact Area
Farmers Journal (Ireland) published an article stating that international food commodity prices have moderated and fallen to below pre-war levels. The article relies on IFPRI research to explain what is happening in the world. According to IFPRI these prices are still above historical averages and these prices reflect the impact of supply chain problems and nations rebounding from COVID-19. The crisis isn’t over. The analysis from IFPRI shows that at the beginning of 2022, countries had already seen an increase of up to 10 percent from 2020-2021. The Ukraine War has exacerbated the higher prices and made already tight global commodity markets even tighter. (See the IFPRI tool, Food & Fertilizer Export Restrictions Tracker).