The dramatic spikes in oil and mineral prices after Russia’s invasion of Ukraine have distracted investors from the long-lasting and more dangerous impact of food inflation, BlackRock founder Larry Fink has warned.
“The one thing I worry about that we don’t talk enough about is food,” he told the Financial Times. “This isn’t just an inflation concern. There are also geopolitical concerns that result from this.”
The prices of energy, petrol and petroleum-based agricultural inputs shot up earlier this year when western nations imposed sanctions on Russia after the invasion. Grain and edible oil costs were also hit hard because Ukraine is a major exporter.
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