Strategy Note /
Global

Food prices are back to pre Russia-Ukraine war levels

  • Food prices down 2% mom in August (5th consecutive small monthly decline). Still up 8% yoy and 51% from May 2020 trough

  • Mix of global slowdown, lower crude oil, re-opening of Ukraine's Black Sea grain ports, Indonesia palm oil export pickup

  • High household spend on (and high imports of) food in Bangladesh, Egypt, Jordan, Lebanon, Nigeria, Pakistan, Philippines

Food prices are back to pre Russia-Ukraine war levels
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
4 September 2022
Published byTellimer Research

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