Global food prices have reached their highest levels since the end of 2022 amid armed conflicts, logistics disruptions and extreme weather events. Moreover, the price of rice has risen by 50% since the escalation of the situation in the Middle East.
This was stated by International Monetary Fund (IMF) Fiscal Affairs Department Director Rodrigo Valdes during a discussion held within the framework of the annual session of the governing bodies of the IMF and the World Bank under way in Bangkok.
“In recent years we have repeatedly witnessed price shocks in the food market. We have seen conflicts, trade and logistics disruptions, extreme weather events, as well as fluctuations in energy and fertilizer prices. In August global food prices again reached their highest level since the end of 2022, although they are still about 20% below the peak figures recorded in that period. Since the start of the war in the Middle East the price of rice has risen by 50%, that of wheat by 37%, and that of soy by 21%,” Valdes said.
He added that, as before, a food shortage problem has arisen in the world for about 260 million people.
