The United Nations warned in a report released Friday that global food prices could surge another 22 percent in response to the Russia-Ukraine conflict.
The Food and Agriculture Organization (FAO), a branch of the United Nations, said that food prices have already reached record highs, and are likely to get higher.
The report states that the output of food production in Ukraine and Russia put together accounts for over a tenth of global calories.
The global food output of the countries has fallen since Russia invaded Ukraine in late February, resulting in a “sudden and steep reduction” of exports from the countries.
The conflict has critical implications for wheat supply internationally. Russia is the largest wheat producer worldwide, while Ukraine is the fifth largest.
Fifty countries rely on Russia and Ukraine for 30 percent of their wheat supply when considered together, according to FAO Director-General QU Dongyu.
“Many of them are least developed countries or low-income, food-deficit countries in Northern Africa, Asia and the Near East,” Dongyu added.
“The conflict’s intensity and duration remain uncertain. The likely disruptions to agricultural activities of these two major exporters of staple commodities could seriously escalate food insecurity globally, when international food and input prices are already high and volatile,” Dongyu said. “The conflict could also constrain agricultural production and purchasing power in Ukraine, leading to increased food insecurity locally.”
The news from WHO comes amid soaring inflation in the United States.
Data released by the U.S. Labor Department on Thursday showed a 7.9 increase in prices over the past 12 months, 0.8 percent in February alone. In particular, Americans’ wallets have been hit hard by high gas prices, an issue that has been exacerbated by a U.S. ban on Russian oil imports.