In September 2024, global food prices saw their largest one-month increase since March 2022, driven primarily by severe weather conditions and geopolitical disruptions, according to a report released by the United Nations Food and Agriculture Organization (FAO). The FAO’s Food Price Index, which tracks the international prices of a basket of food commodities, rose by 3 percent compared to August. This marks the most significant month-on-month increase in food prices since the early days of the Russia-Ukraine conflict.

Several key factors contributed to this sharp rise, with extreme weather playing a critical role across different regions. The impact was felt across all major food commodity categories, notably grains, cereals, sugar, dairy, and vegetable oils. The global nature of the increase underscores the fragility of global food supply chains in the face of climate change and volatile international trade dynamics.

The FAO Food Price Index is a weighted average that tracks changes in international prices of food commodities such as cereals, vegetable oils, dairy, meat, and sugar. In September, all these categories saw significant increases, which collectively pushed the broad index up by 3 percent, reversing a downward trend that had persisted for three months.

The most prominent rise was seen in grain and cereal prices, which make up the largest component of the overall index. The FAO noted a 3 percent increase in this category, reversing months of declines. Unfavorable weather in key agricultural regions was the primary factor behind this jump. In Canada and parts of the European Union, unusually wet conditions disrupted wheat production, pushing prices higher. Meanwhile, low water levels in both Brazil and the........

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