World Bank Releases New Report on Ukraine War and Global Food Crisis

by The World Bank Group

The World Bank has released a commodity markets report this April on the Impact of the War in Ukraine on World Commodity Markets. In this report, they state that rising oil prices, inflation and the fertilizer scarcity that the war in Ukraine has created has become the greatest shock to global commodity prices since the 1970s; the report predicts this crisis will alter the global patterns of trade, consumption and production for the next two years.