Factbox: Surging Food Prices Fuel Protests Across Developing World

The ongoing conflict in Ukraine and droughts exacerbated by climate change have significantly driven up global prices of grains, cooking oils, fuel, and fertilizers. This surge in the cost of essential food items has sparked protests in various countries from Indonesia to Iran.

In Europe, wheat prices have soared by 74%, while benchmark palm oil futures have risen by 24% since the beginning of the year. This upward trend is alarming for policymakers, as United Nations agencies have cautioned that the price hikes could exacerbate an existing food crisis in Africa and lead to "catastrophic" malnutrition among children.

Here is a summary of recent protests related to food prices around the world:

Argentina:
Thousands of farmers rallied in Buenos Aires on April 23 against President Alberto Fernandez. They criticized his policies aimed at containing food prices, which they believe are failing to address rampant inflation.

Chile:
On March 25, thousands of students took to the streets in Santiago, demanding increased food stipends.

Cyprus:
On May 18, farmers in Cyprus dumped large quantities of milk and set hay bales ablaze outside the presidential palace in Nicosia to protest high prices and production challenges.

Greece:
On May Day, thousands of workers protested in Athens against the rising costs of energy and food. Consumer inflation in Greece reached 8.9% in March, its highest level in 27 years.

Indonesia:
Farmers protested in Jakarta on May 17 against the rising costs associated with a ban on palm oil exports. A farmers’ group estimates that at least 25% of palm oil mills have stopped purchasing from independent farmers since the ban, leading to a 70% drop in the price of palm fruit.

Iran:
Protests in Iran turned political in early May, ignited by a government decision to cut subsidies that resulted in price increases of up to 300% for various flour-based staples. The government also raised prices for essential goods like cooking oil and dairy.

Kenya:
Activists demonstrated in Nairobi on May 17, urging the government to take action to lower the cost of living, particularly food prices.

Lebanon:
In January, truck and bus drivers in Lebanon blocked roads to protest soaring prices, blaming politicians for failing to address an ongoing economic crisis that has persisted since 2019.

Peru:
In response to road blockades driven by frustration over rising food and fuel prices, Peru deployed the army on highways in April. The country is experiencing its highest inflation rate in 25 years.

Sri Lanka:
President Gotabaya Rajapaksa declared a state of emergency earlier in May following nationwide strikes and protests over a deepening economic crisis, rooted in the impacts of the COVID-19 pandemic, rising oil prices, and tax cuts.

Sudan:
In March, a protester was shot dead during demonstrations in the city of Madani, as citizens protested against a military coup that has led to a severe economic downturn. Since the coup, Sudan’s currency has lost over a third of its value, resulting in skyrocketing prices for fuel, food, and other essential goods.

Tunisia:
On May 11, Tunisia announced price increases for certain foods, including milk, eggs, and poultry, after farmers protested the rising costs of animal feed.

Countries around the world continue to grapple with the ramifications of soaring food prices, prompting widespread unrest and highlighting underlying economic challenges.