Global Food Prices Hit Three-Year High Amid Export Worries and Weather Concerns

Global food prices have reached their highest point in over three years due to renewed concerns about key grain export corridors and adverse weather conditions in major growing regions.

The United Nations' Food and Agriculture Organisation reported that its index of food-commodity prices rose by 0.6% in July from the previous month, led by increases in grain, sugar, and vegetable oils.

Intensifying Russian and Ukrainian attacks are fueling fears over supplies from the key Black Sea grain region, with wheat prices jumping to a two-year high in July.

The FAO index tracks internationally traded food commodities, meaning price changes can take time to reach supermarket shelves.