Infographic: Food inflation hits all-time high, fuels security risks

Russia's war on Ukraine(opens in a new tab) has pushed food and energy prices to fresh highs, triggering food security concerns and putting pressure on households worldwide. Food supply chains are being forced to reroute at great cost as major importers of grains and oilseeds look to cover for stoppages of essential food exports from the Black Sea ports. Global food prices hit their highest level in March since 1990, when the UN's Food and Agriculture Organization started recording this data.

Historically, food inflation saps purchasing power of people and forces governments to tackle supply risks and take measures such as export restrictions, which further aggravate demand-supply imbalances. A similar situation is currently in the play. Food prices are expected to remain elevated for multiple seasons and buyers should be prepared to pay higher prices for imports, FAO Economist Monika Tothova recently told S&P Global Commodity Insights.

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