Strait of Hormuz Closure Pushes Food Commodity Prices to April 2026 Levels Not Seen Since Jan 2024, World Bank Reports 5% Surge as Oil, Fertilizer, Transport Costs Escalate

The world food market is in crisis after the total closure of the Strait of Hormuz in late February pushed food commodity prices to April 2026 levels not seen since January 2024. The World Bank reported food prices increased 5% in two month

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