Food markets are so interconnected that “wherever you are in the world, you feel the effect if global prices go up," said Ian Mitchell, an economist and London-based co-director of the Europe program at the Center for Global Development.
Food prices fall on world markets but not on kitchen tables
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He said, however, that uncertainty is “unhelpful in this deal.” Toward the end of the four-month extension, markets will “price in the risk that it wasn’t extended, and prices will rise a little bit again.”
Russia-Ukraine grain deal extended in win for food prices
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