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The Chief Economist of the Food and Agriculture Organization of the United Nations (FAO), Máximo Torero, warned that the ongoing disruption to the Strait of Hormuz trade corridor is triggering one of the most severe shocks to global commodity flows in recent years, with significant implications for food security, agricultural production, and global markets.

Global food benchmark eased month-on-month as dairy, meat and vegetable oils declined, but the index averaged 4.3% higher in 2025 than in 2024.

FAO’s new Food Outlook warns that the global food import bill will hit a fresh record in 2025, as lower cereal and sugar prices are more than offset by surging costs for coffee, cocoa, oils and other higher-value products.