FAO: Food prices peak since 2022

Global food prices in August rose to their highest level since late 2022, due to adverse weather conditions and conflicts in the Gulf and Black Sea regions, which increased the risks of disruptions to supplies of essential crops. The rise in temperatures and droughts across Europe, along with the El Niño phenomenon, as well as ongoing conflicts in Ukraine and Iran, pushed grain prices to a three-year high. Sugar prices also reached their highest point in a year. The Food and Agriculture Organization’s Food Price Index registered at 133.3 points in August, up from July, but about 17% lower than its peak in March 2022, amid growing concerns over the return of risks to global food markets.

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