Food price warning: Britons said costs could skyrocket thanks to Vladimir Putin's latest decision

Vladimir Putin has effectively reduced shipments from Ukraine, which is one of the world's leading grain exporters. Experts have warned that the move could further drive up food prices

Food prices in the UK could rise further, experts have warned (

Image: PA)

Britons have been warned that food prices could rise even further after Vladimir Putin choked off grain exports from Ukraine.

Yesterday, Russia announced it would withdraw from a UN-brokered grain deal, which was aimed at easing a global food crisis.

Putin effectively cut off shipments from Ukraine, which is one of the world's leading grain exporters, in response to what he called a major drone attack on his fleet near the port of Sevastopol in Crimea annexed to Russia.

Following this announcement, the European Union asked Russia to reconsider its decision.

A Whitehall source said officials will want to reassure Britons about the security of the food supply, but Putin's actions "will have an impact".

Russian President Vladimir Putin has reduced deliveries from Ukraine (

Picture:

SPUTNIK/AFP via Getty Images)

The insider told the: "Ukraine is one of the largest wheat and grain exporters in the world.

"If you limit the export of this good, the price of this good increases, and this is felt throughout the world."

David Laborde, a senior fellow at the International Food Policy Research Institute, said the price of wheat could rise 10% when markets open on Monday.

He warned, "Food is already expensive and this is going to make it more expensive."