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Global Food Prices Rise 1.6%; Veg Oil Up 5.9%

5/9/2026

24 4 Full Breakdown

Summary

Food Index Rises

The Food Price Index rose to 130.7 points in April, with vegetable oil prices up 5.9%, the highest jump since July 2022.
Global food prices rose 1.6% from March, a gain, while FAO economist Máximo Torero said costs from Iran conflict and Strait of Hormuz disruptions boosted oil prices.
FAO expects 2025 cereal output to reach 3.040 billion metric tons, six percent higher, and says sugar prices fell on supply expectations.

Summary

Torero Warns

FAO chief economist Maximo Torero warned that a war over 90 days raises the risk of a food crisis in late 2026 and 2027.
The conflict has blocked the Strait of Hormuz, cutting diesel fuel and fertilizer supplies for agriculture.
Farmers are shifting to low-fertilizer crops, reducing expected wheat plantings for 2026.
Despite raw-material cost rises, the agri-food sector stays resilient as inventories are sold and U.S.-proposed peace talks continue.

History

Historical Context

In October 1973 OAPEC, the Arab core of OPEC, cut production and embargoed the United States and other Israel supporters. The move lifted oil from about $3 to $12 per barrel, triggering food price spikes and leading to strategic grain reserves and the International Energy Agency. FAO economist Maximo Torero warns today’s Iran-Hormuz crisis could echo that shock.

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Food Index Rises

The Food Price Index rose to 130.7 points in April, with vegetable oil prices up 5.9%, the highest jump since July 2022.
Global food prices rose 1.6% from March, a gain, while FAO economist Máximo Torero said costs from Iran conflict and Strait of Hormuz disruptions boosted oil prices.
FAO expects 2025 cereal output to reach 3.040 billion metric tons, six percent higher, and says sugar prices fell on supply expectations.

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