UN: Iran war pushes global food prices to three-year high

UN: Iran war pushes global food prices to three-year high Global food prices rose to their highest level since 2023 in April, driven in part by the conflict in the Middle East, according to the Food and Agriculture Organisation (FAO). The agency said its food price index increased 2 percent year-on-year as higher crude oil prices boosted demand for seed oils used in biofuels, while concerns over weaker production in Southeast Asia also pushed prices upward. The agency warned that sustained increases in fertiliser prices could encourage farmers to shift away from wheat towards less fertiliser-intensive crops, potentially tightening global wheat supplies further and placing additional upward pressure on prices.