The World Trade Organization has warned that surging prices could create a food crisis, and it says poor countries could be hit the hardest. The global trade watchdog attributed the surge in prices to the COVID-19 pandemic and Russia's invasion of Ukraine.

WTO Director-General Ngozi Okonjo-Iweala spoke to reporters on Tuesday. She said the organization has revised downward its forecast for global merchandise trade volume growth this year to 3.0 percent from a year ago. That's down from the 4.7 percent projection released in October.

She described the pandemic and the military operation in Ukraine as "a double whammy." She said the pandemic and the invasion have disrupted supply chains and increased inflationary pressures.

Russia and Ukraine are key suppliers of grain and fertilizer in the global market. Okonjo-Iweala said the disruptions of such exports from Russia and Ukraine are sending food prices soaring. She warned that the impact will be felt around the world, particularly in low-income countries.

The director-general said the international community should act decisively in dealing with the situation in order to prevent food riots from breaking out. She called on the community to release buffer stocks to lower prices.