The supply of food around the globe saw a sharp uptick in disruptions, survey data from S&P Global indicated Monday.
Supply shortages matched the record hit at the height of the global financial crisis in 2008.
“Supply shortages surged in April to reach a joint-record level as the war in Ukraine continued to hit global food exports. Reports of increased food prices were meanwhile at the second-highest on record,” said S&P Global economist Usamah Bhatti.
The Global Supply Shortages Index signaled that shortages were just under seven times higher than the normal level, unchanged from March’s four-month high. Freight capacity remained the hardest hit, with reports of shortages at the highest since last December, S&P Global said.
“Transport capacity remains the most severely affected, with reports of a lack of logistical capacity nearly 32 times above the normal level, as…
