World Food Prices at Record High in March, FAO Says

World food prices jumped to a record high in March as the war in Ukraine sent prices of staples grain and vegetables, the Food and Agriculture Organization of the United Nations (FAO) reported on Friday.

The FAO Food Price Index stood at 159.3 in March, up 12.6 percent from February when it was already in its highest ever level since the index was created in 1990.

The index is a measure of the monthly change in international prices of food commodities. The latest level is 33.6 percent higher than in March 2021.

“World food commodity prices made a significant leap in March to reach their highest levels ever, as war in the Black Sea region spread shocks through markets for staple grains and vegetable oils,” the FAO said in a statement.

Russia and Ukraine both account for a huge share of some of the world’s food staples, such as wheat and corn.

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