El Niño and energy costs drive up global food prices

Researchers Sophie Perry and Leila Fathi from City St George’s, University of London, warn that the El Niño phenomenon, combined with rising energy costs, is driving up the prices of essential food items.

Chocolate is identified as highly vulnerable due to extreme weather in the Ivory Coast, which produces approximately 45% of the world's cocoa. The region is facing both droughts and excessive rainfall, conditions that El Niño could exacerbate through 2027.

Agricultural yields for potatoes and leafy green vegetables are also under pressure. Droughts in Europe have led to potato harvests being estimated at 3.5 million tonnes lower than expected. Leafy greens like spinach and lettuce are particularly sensitive to heat and water shortages.

Additionally, energy costs are impacting the price of bread by increasing the expense of milling and baking. Olive oil prices face volatility due to a lack of irrigation in Spanish plantations and recent wildfires in Greece, Italy, and Portugal.