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What the Iran War Means for Global Food Prices
Posted
April 7, 2026
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April 7, 2026
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3:48Now PlayingBloomberg Opinion columnist Javier Blas says the war in Iran, and the blockage of the Strait of Hormuz, has prompted warnings about another bout of global food inflation similar to the one that followed Russia's invasion of Ukraine. Despite those fears, the agricultural market isn't at risk today, at least in the short term. Oil prices may be soaring, but the world's plentiful food stocks are helping to keep commodity prices in check. However, if the US doesn't find an off-ramp from the war, rising energy and fertilizer costs could eventually push the farming industry to a breaking point. Speaking to Stephen Carroll on Bloomberg Radio Javier Blas says we're not there yet though. President Donald Trump reupped his threat of widespread bombing in Iran in the coming hours if Tehran does not agree to US terms to end the war there.
“A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” he posted on social media.
Conversely, he said new Iranian leaders with “different, smarter, and less radicalized minds” could reach a deal ahead of the 8 p.m. deadline he set earlier this week.
“We will find out tonight, one of the most important moments in the long and complex history of the World. 47 years of extortion, corruption, and death, will finally end,” he said.
On Sunday, Trump vowed to destroy civilian infrastructure in Iran, including power plants if a deal wasn’t reached by late Tuesday, New York time, a move that could constitute a war crime.
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