A United Nations agency says the war in Ukraine sent food commodity prices soaring in March to the highest levels it has ever recorded.
The Food and Agriculture Organization announced on Friday that its FAO Food Price Index, which tracks monthly changes in the international prices of a “basket of commonly-traded food commodities,” averaged 159.3 points in March. That’s up 12.6% from February, which already saw the highest level since the organization began tracking in 1990. It’s also 33.6% higher than it was last March.
The FAO says the war “spread shocks through markets for staple grains and vegetable oils.”
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