Global Food Prices Surge to 18-Month High in September -

The latest data from the Food and Agriculture Organization of the United Nations (FAO) reveals a significant uptick in global food commodity prices, marking the fastest rise in 18 months. In September, the FAO Food Price Index reached an average of 124.4 points, reflecting a 3.0% increase from August and a 2.1% rise compared to the same period last year. This surge encompasses all major commodity groups, with sugar leading the charge.

Sugar Prices Soar Amid Supply Concerns

Sugar experienced the most substantial price jump, climbing by 10.4% in September. This increase is primarily attributed to deteriorating crop conditions in Brazil, one of the world’s largest sugar producers. Additionally, India’s recent decision to relax restrictions on sugarcane usage for ethanol production has raised concerns about future export availability. These factors have collectively tightened the global sugar supply, driving prices higher.