Food Prices Hit Four-Year High Amid Logistics Disruptions and El Nino Fears

The United Nations' Food and Agriculture Organization (FAO) reported that global food prices rose in September to nearly four-year highs due to logistics disruptions, weather concerns, and a severe El Nino weather pattern.

International sugar prices reached an 18-month high as fears about the El Nino weather pattern mounted. Wheat futures hit a three-year peak early last month following a war-related collapse in Black Sea trade.

The FAO Food Price Index, which tracks monthly changes in international food commodity prices, averaged 136.0 points in September, up from 134.0 in August and the highest reading since November 2022.