Soaring energy prices are creating a perfect storm for global food systems, with fertilizer costs surging up to 50% this year, Food and Agriculture Organization (FAO) Chief Economist Maximo Torero cautioned in a recent interview. The warning comes as agricultural experts brace for impacts on 2026-2027 crop cycles that could trigger unprecedented food inflation.
Torero told CGTN that current natural gas and oil price spikes have disrupted fertilizer production chains, with farmers worldwide now facing critical input shortages ahead of key planting seasons. "The real shock will manifest when producers begin preparing fields later this year," he explained, noting that fertilizer accounts for 35% of grain production costs globally.
The economist projected food price inflation could accelerate dramatically in late 2026 and extend into 2027, particularly affecting staple crops like wheat and rice. Developing economies in South and Southeast Asia remain most vulnerable, though European and North American markets won't be immune to supply chain disruptions.
FAO data shows global food prices already rose 12% year-on-year through March 2026. Torero urged coordinated action through multilateral platforms like the G20 to stabilize energy markets and prevent humanitarian crises. "We're not just talking about supermarket prices," he emphasized. "This directly impacts the nutritional security of millions."
