Tag: Food Supply

The UN Food and Agriculture Organization reported global food prices reached unprecedented levels in 2022, averaging 14% higher than 2021. Factors like the Russian invasion of Ukraine, widespread drought, and economic challenges contributed to significant price increases across grains and vegetable oils.

The UN Food and Agriculture Organization reports significant food price increases, with grains and vegetable oils reaching unprecedented levels. Russia's invasion of Ukraine has disrupted global food supply chains, potentially causing widespread hunger in Africa and the Middle East.

President Biden and Western allies announced new sanctions, humanitarian aid, and refugee support for Ukraine. The U.S. will welcome up to 100,000 Ukrainian refugees and provide $1 billion in critical supplies, while leaders discuss potential responses to escalating Russian aggression.

In a tragic escalation of the Ukraine-Russia war, Ukrainian authorities reported 300 civilian deaths from a Russian airstrike on a Mariupol theater shelter. The March 16 bombing, marked with "CHILDREN" in large letters, has intensified allegations of war crimes against Russian forces.

Singapore's core inflation moderated to 2.2% in February, below expectations, but authorities warn of potential upside risks from geopolitical tensions and pandemic-related disruptions. The Monetary Authority of Singapore anticipates further inflation pressures in the near term.

The Ukraine-Russia conflict threatens wheat exports, with farmers cautiously considering planting adjustments. Global food supply chains face disruption as these countries traditionally supply a third of global wheat and barley exports, critical for millions relying on subsidized bread and affordable staples.