Global food priecs may have eased following the UN’s Black Sea Grain Initiative, but they continue to rule above the levels seen before the Russia-Ukraine war and the covid outbreak, United Nations Conference on Trade and Development (UNCTAD) said in a recent report.

This assume significance for India as it is witnessing a sharp surge in food prices, including those of milk. Inflation in the food basket in February was at 5.95%, up from 5.94% in January.

The food basket has a weightage of 39.06% in the overall Consumer Price Index. The Food and Agriculture Organization (FAO) reports that food prices are almost 18% lower than their all-time high in March 2022, following the start of the war in Ukraine.

This downward trend in prices was supported by the efforts of the Black Sea Grain Initiative, UNCTAD said. “However, price levels are still high when compared to pre-war and pre-pandemic levels.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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