UN agency warns Ukraine war could trigger 20 percent food price rise: Reuters

The FAO said it was not clear whether Ukraine would be able to harvest crops if the war dragged on (Shutterstock)
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Updated 11 March 2022
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UN agency warns Ukraine war could trigger 20 percent food price rise: Reuters

ROME: International food and feed prices could rise by up to 20 percent as a result of the conflict in Ukraine, triggering a jump in global malnourishment, the United Nations food agency said on Friday, according to Reuters.

The Rome-based Food and Agriculture Organization said it was not clear whether Ukraine would be able to harvest crops if the war dragged on, while uncertainty also surrounded the prospects for Russian exports in the coming year.

FAO said Russia was the world’s largest exporter of wheat and Ukraine was the fifth largest. Together, they provide 19 percent of the world’s barley supply, 14 percent of wheat, and 4 percent of maize, making up more than one-third of global cereal exports.

Russia is also a world leader in fertilizer exports.

“The likely disruptions to agricultural activities of these two major exporters of staple commodities could seriously escalate food insecurity globally,” FAO Director General Qu Dongyu said in a statement.

FAO’s food price index hit a record high in February, and looks certain to climb further still in the months ahead as the consequences of the conflict reverberate around the world.

FAO said only part of the expected shortfall in exports from Russia and Ukraine could be met by other countries.

“Worryingly, the resulting global supply gap could push up international food and feed prices by 8 to 22 percent above their already elevated levels,” it said.

Between 20 percent and 30 percent of fields used to grow winter cereals, maize and sunflower in Ukraine will not be planted or will remain unharvested during the 2022/23 season, FAO predicted.

FAO said 50 countries, including many of the least developed nations, depend on Russia and Ukraine for 30 percent or more of their wheat supplies, leaving them especially vulnerable.

“The global number of undernourished people could increase by 8 to 13 million people in 2022/23,” FAO said.

The most pronounced rises would be seen in the Asia-Pacific region followed by sub-Saharan Africa, the Near East and North Africa.

FAO urged other countries not to impose export restrictions on their own produce. “They exacerbate price volatility, limit the buffer capacity of the global market, and have negative impacts over the medium term,” the agency said.

A number of countries worldwide have announced food export restrictions or are considering bans to protect their domestic supplies after Russia’s invasion of Ukraine, which Moscow terms a “special operation.” 


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.