(26 February 2022) As result of post covid recovery, unfavourable weather conditions and high demand for cereals in China, food price inflation accelerated significantly in 2021. The Ukraine-Russia conflict that has started in the end of February, 2022 will likely contribute to further global food inflation acceleration.Ukraine is one of the largest exporter of cereals and world largest exporter of sunflower oil. According to data from UN Comrade, in 2020 exports of corn, wheat and sunflower oil from Ukraine accounted for 9%, 15% and 45% of global exports respectively.The largest world importers of cereals such as China, Egypt, Pakistan, Turkey and others relay heavily on corn and wheat from Ukraine. The UN data shows that China - the largest world importer of corn - imports more than 50% of corn from Ukraine.
Note: 1. Use Play button to see the price for each week. 2. Select desired food items from the drop down.