World food prices hit highest level since late 2022
Global food prices rose in August to their highest level since late 2022. Adverse weather and war disruptions in the Black Sea region strained agricultural markets.
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World food prices rose 1.9% in August to their highest level since late 2022, driven by severe weather and Black Sea war disruptions, the United Nations Food and Agriculture Organization said on Friday morning. The benchmark index reached 133.3 points, remaining nearly 17% below its record peak from March 2022 following the full-scale invasion of Ukraine. The increase signals a renewed risk premium across global food markets as climate shocks and geopolitical tensions tighten supply expectations, according to FAO Chief Economist Maximo Torero.
