Global food prices climbed once more in April, driven largely by rising vegetable oil and fertilizer costs linked to escalating tensions in the Middle East, according to the United Nations Food and Agriculture Organization (FAO).
FAO’s Food Price Index reached 130.7 points in April, marking a 1.6% monthly increase and its highest level since February 2023. The agency said disruptions around the Strait of Hormuz and higher energy prices continue to pressure agricultural supply chains worldwide.
Vegetable oils posted the sharpest gains, rising 5.9% from March as transport costs and biofuel demand pushed up prices for palm, soybean, sunflower, and rapeseed oils.
FAO also warned that higher fertilizer costs could affect upcoming harvests, particularly in Southern Hemisphere countries currently entering planting season. The organization noted that a prolonged disruption in the Gulf region could add further pressure to global food inflation.
Meanwhile, sugar prices declined 4.7% due to stronger production forecasts, while cereal prices rose only slightly thanks to stable global inventories.
Despite the recent increases, FAO said global food supplies remain relatively stable for now, although future price movements will largely depend on geopolitical developments and energy markets.
Source: Expansión
