In 2022, Russia’s invasion of Ukraine, even as the world was recovering from the post-pandemic supply chain disruptions, sent international prices of food and other commodities soaring. The benchmark FAO Food Price Index scaled an all-time high of 160.2 points in March and Brent crude futures crossed $139 per barrel on March 7 that year. In contrast, the recent geopolitical storms — whether in Venezuela, Iran or Greenland, not to speak of US President Donald Trump’s seeming upending of the world order — have had minimal effect on the global commodity........

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