<\/p>\n
Global food prices climbed in August to the highest since the end of 2022, as escalating geopolitical tensions and extreme weather deepen concerns over supplies from key producing regions.<\/p>\n
The United Nations\u2019 index of food-commodity prices climbed 1.9% from July, led by grains, sugar and dairy, according to a report from the Food and Agriculture Organisation on Friday.\u00a0<\/p>\n
Global food markets are preoccupied by a mix of supply, trade and weather issues, adding to the strain on farmers already battered by higher input costs. Tensions in the Black Sea breadbasket have escalated since mid-July, with Russia preparing to step up attacks on Ukraine, where farmers are struggling to export grain.<\/p>\n
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Hopes are also dimming for a peace deal between the US and Iran, while poor harvests in Europe could leave the continent more reliant on imports, potentially intensifying competition for supplies.<\/p>\n
Global wheat prices rose 2.6% in August, while sugar jumped 11.9%. The FAO index tracks internationally traded food commodities, meaning it can take time for price changes to reach supermarket shelves.<\/p>\n
Other warning signs are also emerging. Futures of key crop staples like wheat and corn have climbed to multi-year highs. The Bloomberg Agriculture Spot Index, which tracks 10 major products, rose more than 13% in August, its steepest gain since July 2012.<\/p>\n
The threat of an unusually powerful El Ni\u00f1o means weather risks are unlikely to fade anytime soon, keeping global food markets vulnerable to another inflationary shock.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Global #food #prices #jump #highest #risks #increase<\/p>\n","protected":false},"excerpt":{"rendered":"
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