According to the Sedaye Sama News Agency, citing Reuters, the Food and Agriculture Organization of the United Nations (FAO) said on Friday that global food prices in August reached their highest level since late 2022, as unfavorable weather conditions and disruptions caused by the war in the Black Sea increased concerns over the supply of essential commodities.

According to the report, extreme heat and drought in Europe, the risk of an El Niño event, and trade disruptions caused by the Russia-Ukraine war as well as the U.S.-Iran war have destabilized agricultural markets, pushing grain prices to a three-year high and sugar prices to a one-year peak.

The FAO Food Price Index, which tracks monthly changes in the prices of a basket of food commodities traded on international markets, averaged 133.3 points in August, up from the revised figure of 130.8 points in July.

This was the index’s highest level since November 2022, although it remained about 17% below the record reached in March 2022, when Russia’s full-scale invasion of Ukraine began.

Massimo Turo, a senior FAO economist, said the rise in global food prices in August was a warning that high risks were returning to food markets.

He added that climate shocks, geopolitical tensions and disruptions to commercial transportation had occurred simultaneously, further limiting the outlook for supplies.

According to the report, FAO price indices for grains, vegetable oils, sugar, meat and dairy products all increased in August.

FAO said severe weather conditions in Europe had affected the outlook for corn and sugar beet harvests as well as livestock production. Expectations of an El Niño event have also increased concerns about lower palm oil and sugar production in Asia.

Meanwhile, intensified attacks in the Black Sea have restricted shipments of Russian and Ukrainian grain during the four-and-a-half-year war in the region.

At the same time, the war between the United States and Iran has also put pressure on the supply of fertilizers used for agricultural production.

/ Tasnim