LONDON, Aug 5, (AP): Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the U.N. Food and Agriculture Organization said Friday. The Commodity prices have been falling since hitting record highs last year in the wake of Russia’s invasion of Ukraine. Disrupted supplies from the two countries exacerbated a global food crisis because they’re leading suppliers of wheat, barley, sunflower oil and other affordable food products, especially to nations in parts of Africa, the Middle East and Asia where millions are struggling with hunger.
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The increase was driven by higher costs for rice and vegetable oil. It was the first uptick since April when higher sugar prices bumped up the reading slightly for the first time in a year