Máximo Torero Cullen & Iran

Máximo Torero Cullen: Máximo Torero Cullen, Chief Economist of the Food and Agriculture Organization, explained that vegetable oil prices are driven by elevated energy costs and that agri-food systems are showing resilience despite war-linked disruptions.

Iran: The Iran war and the effective closure of the Strait of Hormuz are cited as major factors driving up vegetable oil prices and contributing to global food price increases.

Máximo Torero Cullen: Máximo Torero Cullen, chief economist at the Food and Agriculture Organization, highlights the significant impact on critical agricultural inputs and the difficult choices farmers face.

Iran: The war in Iran is the primary cause of disruptions in global markets, leading to soaring energy and fertilizer prices and affecting shipping through the Strait of Hormuz.

Máximo Torero Cullen: Máximo Torero Cullen, Chief Economist of the Food and Agriculture Organization, provided insights into the drivers of food price increases and warned about potential future impacts on yields and commodity prices if the Middle East conflict continues.