“A United Nations index of food-commodity prices gained 0.6% in April, with pricier sugar offsetting losses for grains and dairy products. The sweetener has rallied as bad weather and lower fertilizer use hurts crops and limits field work in parts of Asia and South America. A looming El Nino also threatens to further tighten supply.

The UN’s gauge is down about 20% from a record set a year ago, when Russia’s invasion of Ukraine disrupted grain exports. But last month’s rebound could again stoke concerns over food inflation, which recently slowed in places from Kenya to Germany and Australia. Grocery prices still remain historically high in many regions, straining consumer budgets and worsening a hunger crisis.”