Futures prices of West Texas intermediate crude oil and lithium, May 2021-March 2022. Graphic: Bloomberg

A world that’s more expensive is starting to destroy demand – “A renewed spike in gas prices would see demand destruction become more widespread”

By David R Baker, Allison Smith, and Sheela Tobben 27 March 2022 (Bloomberg) – Prices for some of the world’s most pivotal products – foods, fuels, plastics, metals – are spiking beyond what many buyers can afford. That’s forcing consumers to cut back and, if the trend grows, may tip economies already buffeted by pandemic […]

Tokyo Tower is illuminated only in the lower-half part in response to the government’s request to save electricity in Tokyo, Japan on 22 March 2022. Photo: Issei Kato / REUTERS

The future of energy will require bigger sacrifices from citizens – “If you don’t want to act on going 1 degree lower for climate change, do it against Putin”

By Stephen Stapczynski and Shoko Oda 25 March 2022 (Bloomberg News) – Not since the late 1970s have governments around the world been under so much pressure to ask their citizens to cut energy consumption for the greater good. The need for more energy conservation has snowballed: The war in Ukraine is forcing Europe to curb […]

Map showing projected global changes in the number of undernourished people under the severe scenario over the medium term, March 2022. Graphic: FAO

FAO alarmed by uncertainty over wheat harvest in Ukraine – “War could seriously escalate food insecurity globally, when international food and input prices are already high and volatile”

By Marta Rullan 26 March 2022 ROME (EFE) – The planting of the next wheat season in Ukraine, “which could significantly affect world food insecurity, is still extremely uncertain” because of the war, the director general of the United Nations Food and Agriculture Organization (FAO), Qu Dongyu, told EFE, who was also very concerned about […]

Smoke rises after Russian shelling near Kyiv, Ukraine, on 17 March 2022. Photo: Gleb Garanich / REUTERS

Russia’s war on Ukraine threatens climate goals, warns UN chief – “This is madness. Addiction to fossil fuels is mutually assured destruction.”

By Fiona Harvey 21 March 2022 (The Guardian) – The war in Ukraine risks putting global targets on the climate out of reach, the UN secretary general has warned, if countries respond to Russia’s aggression by increasing their use of fossil fuels. António Guterres said the aim of limiting global temperatures to 1.5C above pre-industrial levels, […]

FAO Food Price Index, January 1961 - February 2022. In February 2022, the FAO Food Price Index (FFPI), averaged 140.7 points, up 5.3 points (3.9 percent) from January and as much as 24.1 points (20.7 percent) above its level a year ago. This represents a new all-time high, exceeding the previous top of February 2011 by 3.1 points. The February rise was led by large increases in vegetable oil and dairy price sub-indices. Cereals and meat prices were also up, while the sugar price sub-index fell for the third consecutive month. Graphic: FAO

FAO Food Price Index rose to new all-time high in February 2022

4 March 2022 (FAO) – The FAO Food Price Index (FFPI) averaged 140.7 points in February 2022, up 5.3 points (3.9 percent) from January and as much as 24.1 points (20.7 percent) above its level a year ago. This represents a new all-time high, exceeding the previous top of February 2011 by 3.1 points. The […]

A woman weeps in front of a residential building that was damaged during the Russian invasion of Ukraine in the separatist-controlled town of Volnovakha in the Donetsk region, Ukraine, 11 March 2022. Alexander Ermochenko / REUTERS

Russia invasion in “world’s breadbasket” threatens global food supply – Number of undernourished people could increase by 8 to 13 million in 2022-2023 – “Wars mean shortages, and shortages mean price hikes”

By Frances D’Emilio 11 March 2022 ROME (AP) – Poorer countries in northern Africa, Asia, and the Middle East that depend heavily on wheat imports risk suffering significant food insecurity because of Russia’s war in Ukraine, and the conflict is poised to drive up already soaring food prices in much of the world, the U.N. food agency […]

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