Abstract

The food crisis, which is expressed primarily in significantly increasing prices in the absence of a serious shortage of food, has become one of the principal issues on the global agenda. The global food inflation began long before the military conflict in Ukraine, which Western countries are trying to declare the key cause of the global food crisis. It has been stated that the crisis in the energy and fertilizer markets, the military conflict and sanctions imposed on Russia, as well as extreme climatic conditions undoubtedly exacerbated the food crisis. The rapid rise in world prices for energy and other resources has led to higher production costs and, ultimately, higher food prices, but has not become a driver of food inflation. It has been inferred that the causes of the crisis can be explained by the modern arrangement of the world food system. These include, first of all, the structure of world agriculture and the formation of food prices under the influence of financial speculation in agricultural raw-material markets. It has been found that mitigation and even removal of restrictions on the supply of agricultural goods and fertilizers from Russia cannot be the only and complete solution to the food crisis, which is based on the fundamental reasons. The dynamics of the indicators of the consumer price index for food products in the world according to the estimates of the Food and Agriculture Organization of the United Nations (Food and Agriculture Organization of the United Nations - FAO) has been illustrated.

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