India, July 2 -- Despite signs of a gradual recovery in commercial shipping through the Strait of Hormuz, developing countries are likely to continue facing the consequences of higher food and fuel costs for months to come, according to a new report released by the United Nations Conference on Trade and Development (UNCTAD).

During the more than 100 days of shipping disruption, negative effects had already rippled through the global economy, the UN agency's report said.

The report, Strait of Hormuz Disruptions- Beyond reopening: Lasting impacts on vulnerable economies, warned that freight contracts, supply chains and food systems would take longer to adjust and that high food costs could contribute to acute malnutrition in developing co...