www.zerohedge.com
BY TYLER DURDEN
Ukraine is considered the “breadbasket of Europe,” and the Russian invasion is choking off grain exports, sending global food prices to record highs.
Grain prices surged to record highs last week as world food prices are now higher than they were during the 2011 Arab Spring, leaving us with an abundance of caution that political uprisings due to food price shocks could be right around the corner.
On Friday, the UN Food and Agriculture Organization (FAO) Food Price Index (FFPI), a measure of the monthly change in international prices of a basket of food commodities,Ā reported record-high pricesĀ for February. Prices are, in fact, 3.1% higher than they were in February 2011 when anti-government protests, uprisings, and armed rebellions sprung up around the Arab world.
