# FAO Food Price Index rises in March as Near East conflict raises energy costs

> The FAO Food Price Index rose 2.4% in March to 128.5 points, driven by higher energy prices from the Near East conflict. Wheat prices rose 4.3% on US drought and expected lower Australian plantings, while the All-Rice index fell 3.0%.

- Date: 2026-03-04 · published 2026-03-04T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12573-fao-food-price-index-rises-in-march-as-near-east-conflict-raises-energy-costs
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Higher energy costs and fertilizer prices support grain and oilseed values, and drought-related wheat losses tighten supply, while rice weakens on harvest timing and currency moves.

## Read by commodity

- WTI: bullish ▲
- CORN: neutral
- RICE: bearish ▼
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-01-28 | [U.S. dollar impacts grain prices - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/67028-u-s-dollar-impacts-grain-prices-agweek-1-source-for-agriculture-news-farming.md) | +0.2% | +2.1% |
| WHEAT | 2021-03-10 | [Food prices rise globally as countries compete to replenish stockpiles, bad weather hits crops - ABC News](https://feedsoft.ai/events/8631-food-prices-rise-globally-as-countries-compete-to-replenish-stockpiles-bad.md) | -0.4% | -0.6% |
| WHEAT | 2016-11-22 | [A boost for harvest cash price \| NSW](https://feedsoft.ai/events/11922-a-boost-for-harvest-cash-price-nsw.md) | -2.8% | +0.7% |
| WHEAT | 2022-01-21 | [The Fertilizer Crisis Is Getting Real for Europe Food Prices - Bloomberg](https://feedsoft.ai/events/43072-the-fertilizer-crisis-is-getting-real-for-europe-food-prices-bloomberg.md) | +0.5% | -1.6% |
| WHEAT | 2023-10-05 | [Grain price jitters as rand creeps up to R20/$](https://feedsoft.ai/events/33926-grain-price-jitters-as-rand-creeps-up-to-r20.md) | +4.8% | +5.2% |
| CORN | 2026-08-01 | [Economist sees growing risk for tighter feeder cattle margins in 2027](https://feedsoft.ai/events/18480-economist-sees-growing-risk-for-tighter-feeder-cattle-margins-in-2027.md) | -0.6% | +10.8% |
| CORN | 2020-02-24 | [Economist expects new considerations in grain markets \| 2020-02-24  \| World Grain](https://feedsoft.ai/events/54625-economist-expects-new-considerations-in-grain-markets-2020-02-24-world-grain.md) | -2.5% | -5.2% |
| CORN | 2026-03-06 | [Biofuels hit a crossroads as costs climb, policy lags \| Feed & Grain](https://feedsoft.ai/events/15045-biofuels-hit-a-crossroads-as-costs-climb-policy-lags-feed-and-grain.md) | +1.2% | +2.2% |

## Sources

- fao.org: https://www.fao.org/newsroom/detail/fao-food-price-index-rises-in-march-as-near-east-conflict-raises-energy-costs/en

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.