World food commodity prices took a significant jump in March to reach their highest levels ever according to the Food and Agriculture Organisation of the United Nations. As war raged in Ukraine, it sent shock wave through all commodity markets including grains and vegetable oils. The FAO Food Price Index averaged 159.3 points in March, up 12.6 per cent from February when it had reached its highest level since 1990. In March the index was 33.6 percent higher than March 2021.

While food prices have increased somewhat in western economics, consumers have yet to feel the real impact of rising food prices. This is in stark contrast to developing countries where the impact of the war in Ukraine on global food prices pushing commodity prices to levels not seen since 2011. While the increase in global food prices has been steady in all countries in west Africa, a staggering 40 percent jump from the five-year-average has been witnessed in Liberia, Sierra Leone, Nigeria, Burkina Faso, Tago, Niger, Mali and Mauritania. This has resulted in pushing basic meals out of reach for millions of women, men and children according to the UN world food programme.