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This is an update to the Policy Backgrounder "Global Food Prices and Inflation," which reported on CED’s Trustee Roundtable with Professor Edwin Price, Department of Agricultural Economics, Texas A&M University and including CED Trustees David Smith, Chief Executive Officer, Associated Wholesale Grocers; Jason Potter, Chief Executive Officer, Fresh Market; and Laura Karet, Former Chair and CEO, Giant Eagle, Inc. Food price inflation has been exacerbated by extreme weather events, Russia’s departure from the Black Sea Grain Initiative on July 17, and its subsequent attacks on grain infrastructure at Ukrainian ports and Ukrainian retaliation. On September 4, Turkish President Recep Tayyip Erdo?an met with Russian President Vladimir Putin to advocate reviving the Initiative which allowed for safe passage for the export of Ukrainian grain through the Black Sea.
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