Global Food Prices Surge in March as Agricultural Output Hit Across Nations
Release time:
Apr 09,2026
The Iran conflict's global impact extends far beyond the energy sector, with soaring energy costs triggering a chain reaction of surging transport expenses and fertilizer shortages that continue to batter global agricultural production and food prices. Latest data from the UN Food and Agriculture Organization (FAO) shows global food prices rose 2.4% month-on-month in March, marking the steepest increase in months. Sugar prices jumped 7.2%, vegetable oils 5.1%, while cereals and meat also rose in tandem, underscoring widespread agricultural damage from the conflict.
The Strait of Hormuz carries roughly one-third of the world's key nitrogen fertilizer shipments, leaving global fertilizer supply chains reeling from the conflict. Middle Eastern futures for urea—a primary nitrogen fertilizer—surged past $700 per ton (approx. HK$5,485). Mr. Rix, chairman of PG Rix Farms, a major UK grower of onions and potatoes, noted the farm's costs have risen by £650,000 (approx. HK$6.745 million) this year alone due to skyrocketing diesel and natural gas prices.
Low-Income Nations Face Food Scarcity Risks
Rix warned food price hikes are inevitable in the UK alone, with costs ultimately passed to consumers. He criticized Trump for threatening to bomb Iranian infrastructure, stating: "While claiming to negotiate, he repeatedly threatens to escalate the conflict—creating real problems for people worldwide."
Turkey is grappling with a food inflation crisis. Local media reports fertilizer prices have surged 8–55% since the conflict erupted, with shortages looming. Consequently, Turkey's food prices rose 1.8% month-on-month in March, while transport inflation hit 4.5%. Though the government cut fertilizer import tariffs to mitigate pressures, it has proven insufficient to offset rising costs.
Agricultural analysts note the conflict compounds shocks from the Russia-Ukraine war, pandemic, and climate crises, further straining the world's fragile food system—putting low-income countries at risk of food shortages. Experts warn fertilizer production relies on natural gas and lacks strategic reserves; if the conflict persists beyond 40 days, farmers worldwide will likely reduce planting areas and switch crops, threatening food supplies for the next two years.
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