In addition to wheat, the prices of raw materials such as oil, aluminum and nickel have soared to multi-year highs since Russia invaded Ukraine on february 24 and Western sanctions disrupted air and sea shipments of commodities produced and exported by that country.

But the price increases are not only affecting raw materials, but also inputs. With Russia economically isolated from the rest of the world, agricultural producers could be left without one of their most important fertilizer suppliers.

Julie Marshall, spokesperson for the World Food Program, warned that supply disruptions from Russia and Ukraine, which together account for 30% of global wheat exports and 20% of corn exports, will erode food security for millions of people around the world.

This could affect many flour companies around the world, including Central America, which could make it more expensive to supply wheat products to companies that distribute within the region.

Another affected by this war is corn, of which Russia and Ukraine produce 19% of the global supply. Corn is key for human and animal feed, and in particular for raising chicken and pork.

Economic expert Ricardo Castaneda said that the risks of stagflation in the world have increased.

Stagflation indicates the moment or economic juncture in which, within an inflationary situation, there is stagnation in the economy and the rate of inflation does not decrease.

According to the economist, in the case of El Salvador, official figures do not show this phenomenon, but it is not discarded that it could happen in the country.

The prices of fuel, electricity and food are reflecting a considerable increase, this added to the crisis already experienced as a result of the pandemic.

Castaneda points out that the country has become very risky due to all the problems it is going through in the institutional weakening, division of powers and the fight against corruption.