Global food costs hit three-year high
Global food prices rose in July 2026, reaching their highest level in over three years, due to increased prices of grains, sugar, and vegetable oils amid concerns over grain supplies and the impact of bad weather on agricultural production. According to FAO data, the Food Price Index increased by 0.6% compared to June, as markets focused on challenges such as declining crop yields and security tensions in the Black Sea region, which drove wheat prices to their highest level in two years.
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