Global food prices hit three-year high as heatwaves and conflict push up cost of crops – business live

Rolling coverage of the latest economic and financial news Newsflash: Global food commodity prics have hit a three-year high, as the Ukraine war, conflict in the Middle East and extremely hot weather push up crop prices. The United Nations’ Food and Agriculture Organization’s Food Price Index , which tracks key food prices, has just risen to its highest sinc

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  1. All-Time Peak of the FAO Food Price Index: The FAO Food Price Index reached its highest nominal level of 160.2 points in March 2022, primarily driven by the war in Ukraine and other supply chain disruptions.
  2. Major Food Price Spikes Since 2000: Significant global food price spikes occurred in 2007-2008 and 2010-2011, largely attributed to factors like rising oil prices, adverse weather events, increased demand, and the diversion of food crops for biofuels.
  3. Current Prices vs. Previous Crises: As of July 2026, global food prices reached their highest in over three years, averaging 131.1 points on the FAO Food Price Index. This is below the March 2022 peak of 160.2 points, and also below the record levels observed during the 2008 and 2011 food crises.

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