[Global food prices rise to highest level since 2022] September 4th: Global food prices rose to their highest level since the end of 2022 in August, as geopolitical tensions escalated and extreme weather heightened market concerns about supply in major producing areas. According to a report released by the Food and Agriculture Organization of the United Nations on Friday, the United Nations food commodity price index rose 1.9% from July, with the most significant increases in the prices of cereals, sugar and dairy products. Global food markets are currently keeping a close eye on supply and weather challenges, further increasing the pressure on farmers. Since mid-July, conflicts in the main grain-producing areas of the Black Sea have continued to escalate, and Ukrainian farmers have faced difficulties in exporting grain. At the same time, hopes of a peace deal between the United States and Iran are fading. Poor harvests in Europe and successive heat waves could make the region more reliant on imports, intensifying competition for supplies. The extraordinary intensity of the threat posed by El Niño means climate risks are unlikely to recede in the short term and global food markets remain vulnerable to another inflationary shock.