Food Prices Remained Elevated in March Due to Iran Conflict

06-Apr-2026 11:34 AM

Paris. In March, global market prices for key food products—including grains, pulses, oilseeds, and sugar—remained high and volatile. This surge was driven by rising maritime transport costs and disruptions to traffic along a critical waterway, both stemming from the conflict between Iran and the United States in West Asia.

As this conflict remains ongoing, the upward trend in prices is likely to persist in the future. This situation will exacerbate the difficulties faced by economically vulnerable nations across the continents of Africa, Asia, and South America.

The Food and Agriculture Organization's (FAO) Food Price Index rose by 2.4 percent from its revised February level, reaching an average of 128.5 points in March; this increase reflects the rise in prices across various food products.

The FAO notes that shipping and insurance costs rose significantly last month. Due to potential disruptions at the Strait of Hormuz, by the time many vessels reach their intended destinations, the prices of the products loaded on board will have already risen substantially.

This scenario will result in losses for both importers and exporters. Furthermore, the crisis regarding crude oil and agricultural inputs is also intensifying.