Global food prices hit four-year high due to logistics disruptions
According to FAO data, global food prices reached their highest level since November 2022 in September due to logistics disruptions and weather conditions.
The Food and Agriculture Organization of the United Nations (FAO) reported that global food prices rose to a nearly four-year high in September as logistics disruptions and adverse weather conditions heightened supply concerns.
Increase in the FAO Food Price Index
The FAO Food Price Index rose by 1.5 percent in September compared to the previous month, reaching 136 points and hitting the highest level recorded since November 2022.
Expert Assessments and Risks
FAO Chief Economist Maximo Torero stated that disruptions in the Strait of Hormuz and the Black Sea, combined with climate shocks, put pressure on energy and staple food commodities.
Changes in Cereal and Dairy Products
The FAO Cereal Price Index increased by 5.1 percent compared to August due to logistics restrictions in the Black Sea region and dry weather.
Reasons for the Rise in Sugar Prices
The FAO Sugar Price Index increased by 6.1 percent in September, driven by expectations of a contraction in global supply and weak monsoon rains.
Global Cereal Production Forecast
FAO reduced its 2026 global cereal production forecast by 2.1 percent compared to the previous year, down to 2.979 billion tons.