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Food is the single largest component of the consumer price index in most developing economies — often 30–50% of household spending. When grain prices spike, inflation follows within months, and history links food-price shocks to social unrest.

Concentration makes the system fragile: before 2022, Ukraine alone supplied roughly 30% of global wheat exports, and the disruption of that supply raised bread prices across the Middle East and Africa within a season.

This index tracks wheat, corn and rice futures against their own multi-year ranges — the three grains that feed most of humanity.