World food prices rose in August to their highest levels since late 2022. According to the United Nations' Food and Agriculture Organization, the UN food price index has reached a four-year high.
The increase is driven by adverse and extreme weather conditions, as well as supply disruptions caused by wars. Escalating geopolitical tensions and war disruption in the Black Sea have heightened concerns over the supply of staples.
These factors are currently unsettling farm markets and deepening concerns over supplies coming from key producing regions.