Finance & economics | Commodities

Against expectations, global food prices have tumbled

Why the war in Ukraine has caused less disruption than feared

ISTANBUL, TURKEY - AUGUST 18: Piles of grain are seen on board the Osprey S vessel anchored in the Marmara sea during an inspection by representatives working with the joint inspection team on August 18, 2022 in Istanbul, Turkey. The Osprey S left the Ukrainian port of Chornomorsk on the 16th of August carrying 11,500 tons of grain destined for Turkey. Under the terms of last month's Black Sea Grain Initiative, which paved the way for Ukraine to safely ship grain from three key ports, vessels must be inspected by a team of officials from Turkey, Ukraine, Russia and the United Nations. (Photo by Chris McGrath/Getty Images)
|Singapore

Editor’s note: Please visit our revised Ukraine hub to read the best of our coverage of the war

Six months after Russian tanks rolled into Ukraine, an inflationary shock is still ripping through boardrooms, finance ministries and households. But in one crucial area, prices have come back to Earth. The cost of grains, cereals and oils, staples of diets around the world, has returned to levels last seen before the war began.

This article appeared in the Finance & economics section of the print edition under the headline "Against the grain"

Are sanctions working?

From the August 27th 2022 edition

Discover stories from this section and more in the list of contents

Explore the edition

More from Finance & economics

What campus protesters get wrong about divestment

Will withdrawing money hurt Israel?

Hedge funds make billions as India’s options market goes ballistic

The country’s retail investors are doing less well


Russia’s gas business will never recover from the war in Ukraine

Hopes of a Chinese rescue look increasingly vain