Global food prices hit four-year high

Last August, global food prices increased by 1.9% compared to July, reaching their highest level in over four years, driven by heatwaves and droughts that affected agricultural production, especially sugar. The Food Price Index, which tracks the prices of a basket of essential commodities, showed a widespread rise across all food groups, with a notable 11.9% increase in sugar prices for the month. This surge was due to worsening weather conditions and their impact on beet sugar production, particularly in the European Union, which experienced a decline in production forecasts.

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