Two economic experts confirmed that rising energy costs are being passed on to food prices through a chain of events starting from fields and fertilizers, moving through transport and manufacturing, and finally reaching the consumer, thereby increasing pressures on global markets amid fears of widening living costs.
In the same context, the Food and Agriculture Organization (FAO) global food price index recorded 136 points last September, an increase of 1.5 percent compared to August and 5.8 percent on a yearly basis, reflecting growing pressures due to the interplay of production and transport costs with supply and demand factors.
For his part, expert Jalal Bakkar explained that the Russian-Ukrainian war and tensions in the Strait of Hormuz and the Bab al-Mandab have shaken market confidence in the stability of energy sources, while Turkish expert Erdal Ozil added that agricultural reliance on machinery makes costs directly linked to energy prices.
Bakkar pointed out that the disparity between energy-producing and consuming countries means that the impact of shocks depends on the ability of countries to cope with them, stressing that the coincidence of high inflation with interest rates puts pressure on economies and leads to the erosion of purchasing power.
Ozil clarified that rising energy costs directly affect the agricultural sector, which increasingly relies on machinery and energy-linked inputs, making the transmission of the shock to food prices vary between goods and markets.
The World Bank warned that external debt obligations for developing countries amount to approximately $400 billion in 2026, with interest payments accounting for about a third of this amount, limiting their ability to finance essential imports and support households.
The Turkish expert added that addressing these pressures requires enhancing agricultural production and expanding cultivated areas, emphasizing the importance of concluding agricultural agreements between Turkey, Syria, and countries in the Middle East, North Africa, and Central Asia.
Food prices in the coming months will depend on developments in energy and shipping prices, fertilizer availability, and weather conditions, with the possibility of continued pressure on consumers if supply disruptions persist.
Source: Syrian Arab News Agency (SANA)
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