World food prices reach highest point over supply issues and Ukraine crisis
March 5, 2022, 11:50 am

World food prices reach highest point over supply issues and Ukraine crisis

It is more and more difficult to confirm the exact number of civilians killed and wounded in this barbaric war. The military losses are also difficult to assess. But, Putin’s savage bombing of civilian structures – schools, hospitals, residential districts, private homes – proves that these horrific actions are WAR CRIMES (File photo: Euromaidan Press)

The Xinhua reported, world food prices reached their highest point in the 61-year history of the United Nations Food and Agriculture Organization's Food Price Index, pushed higher by supply chain issues and the Ukraine crisis.

The monthly index, released Friday by the organization, best known as FAO, averaged 140.7 points in February. That is 3.9 percent higher than in January, 24.1 percent higher than in February 2021, and 2 percent above its previous all-time high set in February 2011.

The index, which measures prices dating back to 1961, uses the average for prices between 2014 and 2016 as the value of 100. It is adjusted for inflation.

Four of five sub categories in the index rose, with the index for grains and cereals -- the largest component in the index -- climbing 3.0 percent, with wheat prices pushed higher by supply worries given that both Russia and Ukraine are major wheat exporters.

The proud city of Kharkiv, after Russia’s criminal bombing of civilian structures. This is Ploshcha Svobody (Freedom Square), one of the largest squares in Europe (File photo and text: Euromaidan Press)

Other sub-indexes rose even more, with prices for vegetable oil up 8.5 percent compared to the previous month and dairy prices climbing 6.4 percent.

Meat prices rose by a modest 1.1 percent.

The one category to see prices fall was for sugar, with prices down 1.9 percent, its third consecutive decrease. FAO said strong production prospects in India, Thailand, and Brazil kept prices low.

Boris Johnson: UK to speed up sanctions against Russians

The monthly FAO Food Price Index is based on worldwide prices for 23 food commodity categories covering prices for 73 different products compared to a baseline year.

The next index is scheduled to be released on April 7.

Source: xinhua

Boris Johnson: UK to speed up sanctions against Russians Sky News chief correspondent shot and wounded in Kyiv

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.