Prices of food commodities surge due to Ukraine war

Russian invasion of Ukraine has stifled shipments of grain from two of the world's biggest suppliers

Russia's invasion and the ensuing sanctions have caused turmoil on world markets as it and Ukraine account for about a quarter of global wheat and barley trade. File picture

Ireland and the rest of Europe faces a new round of price shocks as the prices of food commodities climbed to a 14-year high and oil and gas prices continued to climb rapidly amid the war in Ukraine. 

Prices of the world’s basic grains hit multiyear highs as Russia’s invasion of Ukraine stifles shipments from some of the biggest suppliers.