PARIS, Oct 2 (Reuters) – World food prices rose in September to their highest in nearly four years as logistics disruptions and weather concerns affected crop markets, the United Nations’ Food and Agriculture Organization said.
Fears about a severe El Nino weather pattern have pushed international sugar prices to an 18-month high, while a war-related collapse in Black Sea trade pushed wheat futures to a three-year peak early last month.
The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, averaged 136.0 points, up from a revised 134.0 for August and the highest reading since November 2022.
FAO’s benchmarks for cereal, sugar and vegetable oil prices all rose last month, though meat and dairy quotations fell.
“We are seeing a persistent and increasingly broad-based build up in global commodity prices, as disruptions in the Strait of Hormuz and the Black Sea combine with climate shocks, putting pressure on energy, transport and key food commodities,” FAO Chief Economist Maximo Torero said.
“If sustained, these pressures will soon pass through to consumer food prices, especially in food and energy import-dependent countries,” he said in a statement.
In a separate report, FAO kept its forecast for global cereal production in 2026 almost unchanged at 2.979 billion metric tons, 2.1% below the previous year’s peak but still the second-largest harvest on record.
FAO cut its forecast for world cereal trade in 2026/27 by 0.7% from September, citing lower wheat and maize export expectations due largely to constrained Black Sea shipping routes.
(Reporting by Gus Trompiz; Editing by Kirsten Donovan and Emelia Sithole-Matarise)
Comments