Global prices nearing record levels, says Maybank Investment

20 Jun 2022 01:36pm
Maybank Investment says several Asean net exporters benefit from higher food prices, but labour shortages are constraining them from fully capitalising.
Maybank Investment says several Asean net exporters benefit from higher food prices, but labour shortages are constraining them from fully capitalising.

KUALA LUMPUR - Global food prices are reaching record levels due to the Russian-Ukraine war, sanctions, protectionism and volatile weather, said Maybank Investment Bank Bhd.

In a note today, it said Asean’s food Consumer Price Index (CPI) is rising but remains modest (4.2 per cent in April 2022) against other economies, due to food subsidies and price controls.

"Several Asean net exporters benefit from higher food prices, but labour shortages are constraining them from fully capitalising.

"There are signs that the food crisis may be near its peak, with moderating fertiliser prices, easing export curbs, and stabilising energy prices,” the research house said.

The United Nations Food and Agriculture Organisation said its gauge of global food costs fell 0.6 per cent in May from the previous month.

Vegetable oil prices declined 3.5 per cent, partly due to the removal of Indonesia’s export ban on palm oil.

Related Articles:

Download Sinar Daily application.Click Here!

food prices
mybank investments
war
Food Crisis
UN

More Like This
Harrison (front, centre) and residents inspect the drain at Lorong Cakera Purnama 12/27 following the incident in which a child died after falling into it on April 28.
Harrison (front, centre) and residents inspect the drain at Lorong Cakera Purnama 12/27 following the incident in which a child died after falling into it on April 28.
National Puncak Alam residents fear another tragedy as hazardous drain remains uncovered
By MOHD IZZATUL IZUAN TAHIR
06 May 2026 03:26pm
Safety aspects must be taken seriously as they involve lives and not merely public facilities.
Tennoji Zoo in Osaka, Japan, has released a series of photos of three Malaysian elephants - Dara, Amoi and Kelat - saying the animals are in good condition under their care. Photo: tennojizoo.jp
Tennoji Zoo in Osaka, Japan, has released a series of photos of three Malaysian elephants - Dara, Amoi and Kelat - saying the animals are in good condition under their care. Photo: tennojizoo.jp
National Tennoji Zoo shares photos of Dara, Amoi and Kelat, says elephants are doing well
By NURUL HIDAYAH HAMID
06 May 2026 03:12pm
The zoo said they are picking up elephant care techniques from their experienced Malaysian counterparts.
Enforcement officers from the Johor Islamic Religious Department (JAINJ) raided a homestay and detained a married man together with a widow suspected of committing khalwat.
Enforcement officers from the Johor Islamic Religious Department (JAINJ) raided a homestay and detained a married man together with a widow suspected of committing khalwat.
National Married man detained for suspected khalwat with 56-year-old widow
By NOR AZURA MD AMIN
06 May 2026 03:09pm
A man attempted to flee through the bathroom window but was apprehended by enforcement officers stationed at the back of the premises.
The Malaysian Anti-Corruption Commission (MACC) has detained eight individuals to assist in investigations linked to the freezing of several bank accounts belonging to garment retailer Padini Holdings Bhd and its subsidiaries. Photo for illustrative purposes only - Canva
The Malaysian Anti-Corruption Commission (MACC) has detained eight individuals to assist in investigations linked to the freezing of several bank accounts belonging to garment retailer Padini Holdings Bhd and its subsidiaries. Photo for illustrative purposes only - Canva
National MACC detains eight in Padini-linked probe - Azam Baki
Another 15 are being traced to assist investigations.