Global Food Prices Approached Four-Year High in September, According to United Nations Statement
The United Nations Food and Agriculture Organization announced that food prices reached their highest level in nearly four years in September due to logistical problems and climate shocks.
According to data shared by the United Nations Food and Agriculture Organization, global food prices rose to their highest level in the last four years in September, driven by logistical disruptions and weather-related concerns.
Increase in Global Food Prices
The United Nations Food and Agriculture Organization reported that the Food Price Index, which tracks monthly changes in the international food commodity basket, rose to 136.0 points in September. Showing an increase from the revised figure of 134.0 points for August, this rate was announced as the highest level recorded since November 2022.
Supply Chain and Climate Impacts
Maximo Torero, Chief Economist of the organization, stated that disruptions in the Strait of Hormuz and the Black Sea combined with climate shocks, creating pressure on energy, transportation, and basic food commodities. Torero warned that if these pressures continue, they will reflect on consumer prices, particularly in countries dependent on imports.
Sugar and Cereal Markets
Concerns created by the El Nino weather pattern drove international sugar prices to their highest level in 18 months. The sugar price index increased by 6.1 percent compared to August, threatened by adverse weather conditions in key production regions limiting supply.
Changes in Oil and Meat Markets
Vegetable oil prices recorded a limited increase of 0.9 percent due to strong demand for palm oil and production risks in Southeast Asia. Meanwhile, the organization's overall meat index declined by 1.1 percent due to falling demand in the European Union.
Production and Trade Forecasts
In a separate report, the global cereal production forecast for 2026 was kept at 2.979 billion metric tons. Due to restricted shipments in the Black Sea, the expectation for world cereal trade for the 2026-2027 period was revised downward by 0.7 percent compared to the previous month.