War in Ukraine raises prices of wheat, fewer people buy wheat, more people buy rice, price of rice goes up. Or at least, that's the reason for why prices were

War in Ukraine raises prices of wheat, fewer people buy wheat, more people buy rice, price of rice goes up. Or at least, that's the reason for why prices were up in 2022. We're no longer in 2022, though. In 2024, wheat prices are ~the same as they were in January 2020, but rice prices are ~50% higher. Whether you want to attribute that to price stickiness due to the war, drought conditions in Asia, or spirit animals, that's up to you.