Amid “extraordinary uncertainty” and “precarious” geopolitical conditions, commodity price moves are slow to translate into lower food costs (farm policy news)

Farm Policy News compiled information on world food prices using reports from other outlets including the Financial Times which stated, “Climate change and the war in Ukraine are set to keep food prices at far higher levels than before the COVID-19 pandemic, despite signs of moderation in global commodity markets, economists and agriculture experts have warned.” Farm Policy included a Wall Street Journal article where IFPRI senior research fellow Joseph Glauber said, “A key reason for elevated checkout prices is that traders aren’t sure how much grain, and of what quality, will be produced next year.”

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