The crisis the world is going through is turning the financial markets upside down.

While the prices of the stocks that have been in such demand so far are falling, commodity prices are rising sharply.

According to Bank of America, the rise in prices earlier in the year was the sharpest since 1915, the first full year of World War I.

The price of natural gas in Europe more than quadrupled at its peak this year, and the price of gas oil more than doubled.

Martin Hock

Editor in Business.

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The price of wheat also rose sharply, almost doubling at its peak.

This reached a record level not only in European trading, on the Chicago Stock Exchange on Monday it was 14.25 dollars for a bushel (around 27.2 kilograms), significantly more than the previous record level of 12.80 dollars in February 2008. The agricultural market information system the G20 fears that further escalation will endanger the food security of millions.

Russia and Ukraine account for almost 30 percent of the global wheat trade.

Agriculture in Ukraine is at a standstill, with a few weeks before the start of the planting season there is a lack of fertilizer and seeds.

The country has restricted exports of wheat, but also of beef, sugar and sunflower oil.

This also causes other food prices to rise,

A continuation of the conflict will be disastrous for the entire world, said Gilbert Houngbo, president of the UN's International Fund for Agricultural Development.

The Black Sea region exports at least 12 percent of the calories traded in the world.

The food price index of the Food and Agriculture Organization of the United Nations (FAO) has reached its highest level since its inception in 1990.

But it's not just the war that's causing food prices to rise.

A much larger part of the price increase is due to higher energy, fertilizer and feed prices, says FAO economist Upali Galketi Aratchilage.

This reduces profit margins and prevents production from increasing.

The war in Ukraine is also less reflected in the FAO index,

when it is published monthly.

Much of the recent rise was due to higher vegetable oil prices.

The development is also politically explosive.

High food prices are often referred to as the trigger for the Arab Spring in the early 2010s.

In fact, rice and wheat are the most important staple foods globally.

Rice has at least become relatively less expensive this year, which eases the situation in Asia.

But the concerns are great.

Egypt, the world's largest wheat importer, is considering higher bread subsidies after prices there rose 80 percent earlier this year.

Algeria, also a major importer, said grain reserves would last until the end of the year, while Lebanon's wheat currently only lasts for four to six weeks.

Tunisia has apparently already rationed flour for bakeries.

According to Abeer Etefa of the World Food Program, the Middle East may find it difficult to get its grain needs from anywhere other than Russia and Ukraine.

Although there is a global surplus, it is only available at higher transport costs.

The outlook is worrying.

War leads to food insecurity, which in turn leads to civil unrest.

Some countries such as Serbia and Hungary are now restricting exports, while others such as Argentina, Kenya, Turkey and Indonesia have introduced controls.