Global food prices rise after Russia ends grain deal and India restricts rice exports

By The Associated Press

LONDON (AP) — Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia ended a deal allowing Ukraine ship grain and India restricted some rice exports. The U.N. Food and Agriculture Organization said on Friday that its index of food prices increased 1.3% in July over June. The increase was driven by higher costs for rice and vegetable oil. It was the first uptick since April when higher sugar prices bumped up the reading slightly for the first time in a year. Commodity prices have been falling but the trade restrictions and grain deal’s demise threaten to increase food insecurity and the prices people pay to eat in developing nations.