Global food prices are facing new risks after Russia pulled out of a grain deal and India restricted rice exports. The UN Food and Agriculture Organization (FAO) reported that global prices for rice and vegetable oil rose by 1.3% in July, the first increase since April. Disrupted supplies from Russia and Ukraine, major suppliers of affordable food products, have exacerbated global food insecurity. The FAO has expressed concern over rising rice prices, particularly for poor populations. The FAO also noted that despite falling commodity prices, local food prices are still rising in many developing countries due to weakened currencies.