Global Food Prices Edge Up Amid Heatwaves and Regional Conflicts

Global food prices have risen for the second consecutive month in July, according to a report from the Food and Agriculture Organization of the United Nations. The FAO Food Price Index averaged 131.1 points in July, up 0.6 percent from June and 1.0 percent higher than a year earlier.

The cereal price index rose 3.4 percent month on month, driven by higher prices for wheat and maize. Wheat prices climbed 5.8 percent amid concerns over disruptions to Black Sea exports and heatwaves affecting major producing regions.

Sugar prices also rose 5.6 percent from June, reflecting concerns over hot and dry weather in Europe and adverse weather risks in major Asian producing countries.