Global Food Prices Surge to Nearly Four-Year High Amid El Niño Concerns
Global food prices have reached a nearly four-year high in September, according to the United Nations Food and Agriculture Organization (FAO).
The FAO's Food Price Index rose to 136.0 points, its highest level since November 2022. The index tracks monthly changes in international prices for a basket of food commodities.
International sugar prices surged to an 18-month high due to concerns about a strong El Niño weather event. Meanwhile, wheat futures reached a three-year high following the war-related collapse of Black Sea trade at the beginning of last month.
The FAO also cut its forecast for global cereal trade in the 2026/27 marketing year by 0.7% compared to last month's forecast, citing lower expectations for wheat and corn exports amid restrictions on shipping in the Black Sea.