# Food inflation risks balloon as prices of wheat to palm oil soar | INTERNATIONAL ECONOMY NEWS - Business Standard

> Food commodity prices rallied, with wheat reaching its highest level since 2012 and palm oil on a record run. Russia and Ukraine account for about a quarter of global wheat trade and most sunflower oil exports. Drought in South America also weighed on soybean supply prospects, and a labor shortage in Malaysia was limiting palm oil output.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9675-food-inflation-risks-balloon-as-prices-of-wheat-to-palm-oil-soar-international
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher wheat, corn and vegetable oil prices raise input costs for feed and food manufacturers. Low starting stocks leave little buffer against further supply shocks.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2022-03-01 | 5 | +15.0% | 4.4 | Food commodity prices including palm oil rallied on Russia-Ukraine risk, while Malaysian labor shortages limited output. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-08-27 | [Higher gas prices deepen Europe's fertiliser crunch, threaten food crisis \| INTERNATIONAL ECONOMY NEWS - Business Standard](https://feedsoft.ai/events/5146-higher-gas-prices-deepen-europe-s-fertiliser-crunch-threaten-food-crisis.md) | +0.5% | +4.4% |
| WHEAT | 2026-04-29 | [As nitrogen-based fertilizer prices soar, global food inflation looms - The HinduBusinessLine](https://feedsoft.ai/events/7255-as-nitrogen-based-fertilizer-prices-soar-global-food-inflation-looms-the.md) | -3.1% | -0.4% |
| 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 | 2022-10-31 | [Grain deal: Wheat and corn prices rise as Russia withdraws \| CNN Business](https://feedsoft.ai/events/39174-grain-deal-wheat-and-corn-prices-rise-as-russia-withdraws-cnn-business.md) | -5.6% | +2.4% |
| WHEAT | 2022-02-24 | [AgriMarketing.com - Wheat Prices Soar Following Russia's Invasion Of Ukraine](https://feedsoft.ai/events/42753-agrimarketing-com-wheat-prices-soar-following-russia-s-invasion-of-ukraine.md) | +6.8% | +25.3% |
| CORN | 2022-08-27 | [Higher gas prices deepen Europe's fertiliser crunch, threaten food crisis \| INTERNATIONAL ECONOMY NEWS - Business Standard](https://feedsoft.ai/events/5146-higher-gas-prices-deepen-europe-s-fertiliser-crunch-threaten-food-crisis.md) | +0.5% | -0.0% |
| CORN | 2026-04-29 | [As nitrogen-based fertilizer prices soar, global food inflation looms - The HinduBusinessLine](https://feedsoft.ai/events/7255-as-nitrogen-based-fertilizer-prices-soar-global-food-inflation-looms-the.md) | +0.2% | +0.3% |
| 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% |

## Sources

- business-standard.com: https://www.business-standard.com/article/international/food-inflation-risks-balloon-as-prices-of-wheat-to-palm-oil-soar-122022400493_1.html

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