# Food commodity prices hit unprecedented highs as Ukraine crisis festers

> The FAO reported that global food commodity prices hit unprecedented highs in March 2022, led by vegetable oils and cereals. Its vegetable oil sub-index rose 23.2% to a record 248.6 points, and the headline index averaged 159.3 points, up 12.6% from February. The FAO attributed the shock to Russia's invasion of Ukraine, which disrupted staple grain and vegetable oil markets.

- Date: 2022-04-08 · published 2022-04-08T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/4042-food-commodity-prices-hit-unprecedented-highs-as-ukraine-crisis-festers
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Russia and Ukraine supply roughly 30% of global wheat and are major sunflower oil and maize exporters, so the disruption tightens supplies and lifts prices across feed grains and oilseed-based products. Feed buyers should expect elevated costs for grains and vegetable oils.

## Read by commodity

- SBO: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-07-20 | [Wheat prices soar as Russia-Ukraine tensions stoke food crisis fears](https://feedsoft.ai/events/35082-wheat-prices-soar-as-russia-ukraine-tensions-stoke-food-crisis-fears.md) | -0.7% | -1.3% |
| WHEAT | 2022-02-24 | [Ukraine crisis: commodities prices surge as stock markets slump \| Commodities \| The Guardian](https://feedsoft.ai/events/6312-ukraine-crisis-commodities-prices-surge-as-stock-markets-slump-commodities-the.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2022-04-06 | [The Ukraine Conflict and Other Factors Contributing to High Commodity Prices and Food Insecurity \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/4033-the-ukraine-conflict-and-other-factors-contributing-to-high-commodity-prices.md) | -2.3% | +3.8% |
| WHEAT | 2023-07-20 | [Grain prices rise after Russian pullout of Black Sea deal sparks food crisis fears \| Commodities \| The Guardian](https://feedsoft.ai/events/35076-grain-prices-rise-after-russian-pullout-of-black-sea-deal-sparks-food-crisis.md) | -0.7% | -1.3% |
| CORN | 2023-07-20 | [Wheat prices soar as Russia-Ukraine tensions stoke food crisis fears](https://feedsoft.ai/events/35082-wheat-prices-soar-as-russia-ukraine-tensions-stoke-food-crisis-fears.md) | +9.4% | -7.2% |
| CORN | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.5% | +12.3% |
| CORN | 2022-04-06 | [The Ukraine Conflict and Other Factors Contributing to High Commodity Prices and Food Insecurity \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/4033-the-ukraine-conflict-and-other-factors-contributing-to-high-commodity-prices.md) | -1.9% | -6.1% |

## Sources

- just-food.com: https://www.just-food.com/news/world-commodity-prices-reach-unprecedented-highs-as-ukraine-crisis-festers/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.