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Food prices rise after Russia ends grain deal, India restricts rice exports | Business and Economy News

There are new risks to global food prices after Russia exited grain deal and India restricted some rice exports.

Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia pulled out of a wartime agreement allowing Ukraine to ship grain to the world, and India restricted some of its rice exports, the UN Food and Agriculture Organization has said.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, increased 1.3 percent in July over June, driven by higher costs for…

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