Global Food Inflation to Accelerate Through 2027 as Hormuz Disrupts Cereal Supply

🌾 SUPPLY CHAINS — Hormuz isn't just burning oil; it's starving grain corridors too. 📌 LOOK CLOSER: War-disrupted shipping routes compound El Niño crop losses — a dual squeeze on cereal supply hitting import-dependent states hardest. MENA and Sub-Saharan Africa absorb both shocks simultaneously. With Hormuz transits at ~5% of pre-war volume and no reopening credible before 2027, food inflation embeds structurally, not cyclically. Domestic unrest risk — already live in France — spreads to fragile states.