World food prices at highest since 2022 as supply risks mount: FAO
World food prices rose in August to their highest since late 2022, as adverse weather and war disruption in the Black Sea heightened concern over supply of staples, the United Nations’ Food and Agriculture Organization said on Friday.
Extreme heat and drought in Europe, the threat of a severe El Nino weather pattern and trade upheaval caused by the Ukraine and Iran wars have unsettled agricultural markets, pushing grain prices to three-year highs and sugar to a one-year peak.
The FAO’s price benchmarks for cereals, vegetable oils, sugar, meat and dairy all rose in August.
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