GENEVA, March 11. /TASS/. Experts of the United Nations Conference on Trade and Development (UNCTAD) are concerned that disrupted navigation in the Strait of Hormuz may entail the global food price hike.
"Higher energy, fertilizer and transport costs - including freight rates, bunker fuel prices and insurance premiums - may increase food costs and intensify cost-of-living pressures, particularly for the most vulnerable," the organization said in its report.
Energy market immediately responded to blocking of transit via the strait, UNCTAD experts said. Based on the data of energy crises for the period since January 1990 to February 2026, UNCTAD points to a direct correlation between the rise in oil and food prices.