Global food prices rose for third consecutive month amid Strait of Hormuz closure: FAO

According to FAO data, global food prices have risen for three consecutive months due to rising energy costs and supply chain disruptions linked to the closure of the Strait of Hormuz. Grain and oil prices have increased significantly, exacerbated by reduced grain production in the US due to drought and rainfall shortages in Australia. Despite weaker global import demand and improved supply prospects, food prices have risen slightly.