Global Food Prices Hit Record High in March Due to War in Ukraine; US Senators Warn of Massive Food Shortage

Global food prices surged over 13% in March, hitting a new record, as the conflict in Ukraine wreaked havoc on markets for essential grains and edible oils, the United Nations Food and Agriculture Organization (FAO) said on Friday.

Last month, according to FAO's food price index, which analyzes the most widely traded food commodities around the world, averaged 159.3 points, up from 141.4 in February. The record high was 140.7, which was in February, as per a report from Reuters.

Russia and Ukraine are significant exporters of wheat, corn, barley, and sunflower oil. Moscow's six-week invasion of its neighbor has halted Ukrainian exports.

Food and feed prices might rise by up to 20% as a result of the war in Ukraine, according to the FAO, heightening the danger of increased hunger.

Due to global harvest uncertainties, food price surges have aggravated agricultural supply interruptions in the Black Sea region, which were already at 10-year highs on the FAO's index before the Ukraine conflict.

FAO said that its cereal price index increased by 17% to a new high in March, while its vegetable oil index increased by 23% to its highest level yet

According to the FAO, food and feed costs could rise by up to 20% as a result of the Ukraine conflict, increasing the risk of starvation. As the sowing season begins in Ukraine, the battle continues to rage.

The situation prompted wheat prices to increase by about 20%, aggravated by fears about harvest conditions in the United States, according to the group.

US President Joe Biden has accused Russian President Vladimir Putin of creating "this global food crisis," as per France 24/7 report.

Spanish supermarkets have rationed the sale of sunflower oil to stop customers stockpiling over shortage fears due to the war.

US Helps in Addressing The Food Supply Issue

To alleviate the shortages, White House and State Department officials collaborate with USAID and the United Nations' World Food Programme.

President Joe Biden has pledged $1 billion in humanitarian aid to those impacted by Russia's war in Ukraine and its global consequences.

One of the senators advocating for more food assistance, Chris Coons (D-Del. ), warned that "mass starvation is a real," and that threat is approaching.

Coons, Republican Senator Lindsey Graham of South Carolina, and other like-minded senators have warned that widespread food shortages could lead to mass migration and political instability in North Africa and the Middle East, endangering US national security.

Prepare For Possibility of a Global Food Crisis

A senior Senate aide said that the lawmakers "See the storm coming," and they "feel underprepared to deal with this."

Coons stated that he would advocate for a stand-alone bill that includes financing for global vaccines against COVID-19 and food relief, per a Politico report.

Meanwhile, Some senators are concerned that if the US fails to act on the global food crisis, China or other rival nations will use their grain stocks to acquire political clout in Africa and Asia.

"They are predators. They are extorters," said Sen. Kevin Cramer (R-N.D.).