One of the many effects of the Ukraine war has been to highlight the fragility of our global food system. As BNP Paribas Asset Management previously explored, the Food and Agriculture Organization’s food price index earlier this year reached levels last seen in the 1970s oil crisis (it has subsequently fallen, but to still-high levels last seen in 2011). Not only does this make putting food on the table harder for many families, every 1% increase in food prices pushes another 10 million people into extreme poverty.
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