Top 10 hedge funds made £1.5bn profit from Ukraine war food price spike
by Fiona Harvey Environment editor from on (#6ASR4)
Analysis covering first quarter of last year raises questions over role of speculators in inflating food prices
Hedge funds have emerged as some of the biggest winners from the global food price spike that followed Russia's invasion of Ukraine, with the world's 10 biggest hedge funds alone making profits estimated at nearly $2bn.
Analysis of the profits of the top 10 hedge funds for the first quarter of last year shows they are likely to have made about $1.9bn (1.5bn) from trading in two food commodities, grain and soya beans, in the run-up to and immediate aftermath of the invasion.
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