The world saw a spike in food prices in July following Russia's withdrawal from Ukraine's grain export deal.
This is seen in the global food price index of the Food and Agriculture Organization of the United Nations (FAO) which increased 1.3% in July compared to the previous month.
It was the second increase in a year after a steady decline since the agreement was reached in July 2022.
As a context, the agreement called 'Black Sea Grain Initiative' was managed by Turkey and the United Nations (UN).
While the monthly index, which tracks various food commodities, is still down almost 12% from last year.
Even so, Moscow's decision to withdraw from the UN-backed deal has pushed up grain and sunflower oil prices.
The agreement has played an important role in stabilizing the global food market since the war began in February last year, especially for poor countries that are heavily dependent on Ukraine's grain supplies.
With the deal, it has allowed the export of nearly 33 million metric tons of food through Ukrainian ports, according to UN data.
Even so, concerns about food price inflation increased after Russia reportedly launched a drone attack on the port infrastructure of the Danube River in the southern part of the Odesa region.
The port is an important route for grain exports, having been Ukraine's main grain export route since the deal collapsed.
The attack happened ahead of a meeting between Turkiye President Tayyip Erdogan and President Vladimir Putin today.
