Global food prices have reached a three-year high due to the heatwave and conflicts

The food market has faced a new round of price rises. Global food prices have reached their highest level in more than three years, driven by extreme heat, reduced crop yields and ongoing conflicts that are disrupting agricultural supplies, according to The Guardian.

According to the Food and Agriculture Organisation of the United Nations (FAO), the global food price index rose to 131.1 points in July – its highest level since January 2023. Experts warn that the combination of climate risks and geopolitical instability could lead to further pressure on food prices for consumers worldwide.

Heatwaves are destroying crops and driving up prices

Extreme weather conditions have been one of the main factors driving price rises. Prolonged heatwaves and droughts have hit agriculture in Europe and other regions of the world, reducing yields of key crops.

Cereals have been particularly hard hit. High temperatures have affected the production of wheat, maize and other crops, whilst harvest problems have heightened concerns about future supplies. In Europe, following a devastating heatwave, farmers were forced to destroy millions of tonnes of crops.

Experts note that climate change is becoming an increasingly significant factor in the food market: periods of extreme heat, drought and wildfires have a direct impact on food prices in shops.

Prices for grain, sugar and vegetable oils have risen

Prices for several key food categories have risen most sharply in recent times.

Cereal prices have risen by 3.4 per cent, whilst the cost of wheat has increased by approximately 5.8 per cent. One of the reasons for this has been disruptions to exports and instability in supplies from key agricultural regions.

Sugar has also risen significantly in price, with an increase of around 5.6 per cent. Pressure on the market was exacerbated by concerns over drought in Europe and changes in demand for sugarcane in Brazil, where part of the raw material is used for ethanol production.

Vegetable oils rose in price by approximately 2 per cent. The market was influenced by increased demand, including from biofuel production in Indonesia, as well as rising oil prices.

Conflicts are complicating food supplies

In addition to climate-related issues, armed conflicts and disruptions to trade routes are putting further pressure on prices.

Experts point out that disruptions to grain exports in the Black Sea region continue to affect global markets. Furthermore, instability in the Middle East poses additional risks to the supply of fertilisers and agricultural raw materials.

The rise in fertiliser prices is particularly significant for agriculture: increased costs for farmers ultimately affect the price of finished products.

Experts estimate that food inflation may persist if extreme heat and weather anomalies continue. The intensification of the El Niño climate phenomenon remains an additional risk factor, as it could affect harvests in various parts of the world.

The UN warns that the combination of climate shocks and instability in global markets could exacerbate the threat to food security for millions of people in the coming years.

Which foods are worth buying in advance as prices rise

Against the backdrop of a new round of rising global food prices, experts advise focusing on goods with a long shelf life. Such stocks help not only to reduce costs should prices rise further, but also to weather potential supply disruptions or seasonal price spikes. First and foremost, experts recommend keeping basic foodstuffs at home that can be stored for months without losing quality:

Cereals and pasta.
Rice, buckwheat, oats, pasta, bulgur and other dry goods remain among the most reliable staples. When stored correctly in a dry, cool place, they can last from several months to several years.

Pulses.
Beans, lentils, chickpeas and peas are not only long-life foods but also a source of plant-based protein, making them an important part of your home supplies.

Tinned food.
Tinned fish, meat and vegetables can be stored for years and can serve as an alternative to fresh produce in the event of supply disruptions or rising prices.

Flour, sugar, salt and honey.
These are staple items: sugar and salt have virtually no expiry date when stored correctly, whilst honey can retain its properties for a very long time.

Vegetable oils.
Rising vegetable oil prices are already affecting the global food market, so many experts advise buying small stocks of high-quality oil in advance and storing it in a cool, dark place.

Nuts and seeds.
They have a long shelf life and contain healthy fats, but require the right storage conditions – it is best to keep them in airtight packaging, protected from moisture and high temperatures.

At the same time, experts remind us that it is not worth stockpiling perishable foods in excess. Meat, fish, dairy products and fresh vegetables are most dependent on storage conditions and need to be consumed quickly.