UN says world food prices hit three-year high amid Iran war disruptions
World food prices rose in April to their highest level in more than three years, driven in part by higher vegetable oil prices linked to the war involving Iran and disruptions around the Strait of Hormuz, the UN Food and Agriculture Organization said on Friday.
FAO Chief Economist Máximo Torero said rising energy costs had boosted demand for biofuels made from vegetable oils.
He added that global agricultural supply systems had remained relatively resilient despite the conflict, with cereal prices rising only moderately due to strong existing supplies.
