Bloomberg: World food prices are set to rise due to wars and droughts

Bloomberg: World food prices are set to rise due to wars and droughts.

Consensus

Military conflicts are disrupting grain shipments through the Black Sea.
Extreme weather conditions such as heatwaves, droughts, and wildfires are affecting agricultural production in Europe.
The El Niño phenomenon is threatening rice production in countries including Vietnam, the Philippines, and India.
Prices for wheat have increased by more than 10% in July.
The situation is contributing to a potential rise in global food prices.
Fertilizer and fuel prices have risen due to conflicts in the Middle East.

Russia and Ukraine together account for more than a quarter of global wheat trade, nearly two-thirds of sunflower oil exports, and one-tenth of corn exports. — vedomosti
The current El Niño cycle (2026–2027) has historically unprecedented chances of becoming a 'very strong' event, potentially causing droughts, floods, and stormy weather globally. — vedomosti
Goldman Sachs estimates that the strength of this El Niño could lead to a 15.8% increase in global food commodity prices. — vedomosti
Rice prices recently reached an 18-month high. — vedomosti
The Guardian reported in July that a 'super El Niño' could drive up food prices until 2028. — vedomosti
The situation in Iran has contributed to rising fuel and fertilizer prices. — tg_tass_agency