“…In sum, COVID-19 affected both supply and demand of food markets, resulting in higher food prices, leading to food insecurity and poverty in many developing and emerging countries. As mentioned above, various studies have investigated economy-wide impacts of COVID-19 induced turmoil [ 45 , 46 ], effects on labor markets [ 23 , 33 , 47 , 48 ], household income and food security [ 14 , 26 , 28 , 36 , 38 , 49 – 52 ], and trade flows [ 41 , 53 ]. However, the literature on price effects of the COVID-19 pandemic is minimal.…”