May 8, 2026 3:11 PM
World food prices rise to more than three year high in April, FAO says
World food prices climbed in April to their highest in more than three years, with vegetable oils particularly elevated due to the Iran war and the effective closure of the Strait of Hormuz, the United Nations Food and Agriculture Organization (FAO) said on Friday. FAO Chief Economist Máximo Torero said vegetable oil prices are being driven by elevated energy costs that are in turn raising demand for biofuels made using organic materials, such as oil-rich plants. He added, however, that despi...