Author: Keira Wright

The world is facing a perfect storm of weather-related challenges that are impacting crop harvests and driving up food prices. From droughts to downpours and fires, agricultural regions across the globe are struggling to produce essential staples like sugar, grain, coffee, and cocoa. As a result, the Bloomberg Agriculture Spot Index has surged over 7% in a month, signaling potential price hikes at the grocery store. Experts attribute the price increases to supply uncertainties caused by unfavorable weather conditions. This reversal comes after a period of stable food prices due to abundant supplies and weak demand. However, with ongoing weather…