FAO points India export ban and Ukraine war as reasons for rise in Global Wheat prices

International wheat prices rose for a fourth consecutive month, up 5.6 percent in May, to average 56.2 percent above their value last year and only 11 percent below the record high reached in March 2008.

FAO points India export ban and Ukraine war as reasons for rise in Global Wheat prices
Photo by Evi Radauscher / Unsplash

Wheat prices have risen on international markets following India's announcement of a restriction on exports of the basic commodity, as well as lower production prospects in Ukraine following Russia's invasion, according to the UN food agency.

V Muraleedharan, Minister of State for External Affairs, spoke at the Ministerial Meeting on the 'Global Food Security Call to Action', emphasizing that India would do its part in ensuring global food security.