Food Prices Fall for Some Commodities But Hunger Persists as Rice, Sugar Rise
• Global food commodity prices dropped in 2023 after hitting record highs in 2022 due to war, drought, and other factors • But prices for rice and sugar rose over the past year due to climate impacts on major exporting countries • Over 333 million faced acute food insecurity in 2023 despite lower prices for some commodities • India's export limits drove rice prices up 21%; drought hurt sugar production in India and Thailand • Vegetable oil prices hit a 3-year low as supplies rebounded, after initial spikes due to the Ukraine war