Three-Year Peak: Food Prices Soar Amid Heatwaves and Conflict

Heatwaves and geopolitical tensions have pushed global food prices to a three‑year high.

Heatwave Crisis: The Biggest Threat to Agriculture

■FAO Food Price Index: Reached its highest level since January 2023.

■Sorghum: Slightly rose in line with U.S. maize price increases.

■Barley: Fell 1.9 % thanks to favorable yields in Australia and the Black Sea region.

Impact of Conflicts on the Food Chain

■The Ukraine war and Middle East conflicts have tightened export flows, amplifying price pressure.

■Food Exports: Declined by 12 % in 2026, further tightening global demand.

Rice Index: Stable Amid Demand Fluctuations

■FAO’s All Rice Price Index remained flat, with a modest rise in Indica varieties.

■Price declines driven by demand were observed in other major rice varieties.

Housing Market: Mortgage Rates and Buyer Strain

■Average housing prices remained stable, up 0.5 %.

■Mortgage rates, after easing in summer, began to rise following recent Middle Eastern developments.

Rising food prices continue to strain consumers’ budgets. Prolonged heat and geopolitical uncertainty expose the agricultural sector to long‑term risks, while higher mortgage rates squeeze buyers further. These fluctuations are likely to spark significant discussions on food security, especially in emerging economies.