Concerns rise over global food prices increasing

The U-N Food and Agriculture Organization is concerned global food prices are rising since Russia pulled out of a deal allowing Ukraine to ship grain out of Black Sea ports.

Vegetable oil prices jumped 12.1 per cent between June and July and sunflower oil prices surged 15 per cent on fresh uncertainties about supplies following the end of the grain deal.

The F-A-O is also worried about the impact of India restricting some of its rice exports, which is prompting hoarding and raising substantial food security concerns for a large swath of the world’s population.

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