FAO: Protracted Strait of Hormuz Crisis Could Turn Into Global Agrifood Catastrophe
The FAO warned that a prolonged crisis in the Strait of Hormuz could halt shipments of essential agricultural inputs, sparking a surge in food‑price inflation comparable to the COVID‑19 shock. About 20‑45% of global fertilizer and energy imports travel through the strait, and any delay would force farmers to cut inputs, lowering yields through 2027. FAO chief economist Maximo Torero urged nations to keep the waterway open, avoid export bans, and consider rapid financing for vulnerable countries. He highlighted that unlike climate events, the blockage is a political issue that can be resolved quickly.
FAO Food Price Index Declines in January for Fifth Consecutive Month
The FAO Food Price Index slipped to 123.9 points in January, marking a fifth consecutive monthly decline and a 0.4% drop from December. Prices fell sharply for dairy (‑5%) and sugar (‑1%), while the cereal price index edged up 0.2%...