J.P. Morgan recently warned that disruptions in global fertilizer supply and the risk of superstrong El Niño are compounding, and global food prices may rise 5% in the first half of 2027. The energy sector still has strategic oil reserves to cushion shocks, and there is no similar backup plan for fertilizer supply. Once the fertilization period is missed, even if supply is later restored, the reduction in crop production will be difficult to reverse. J.P. Morgan Chase pointed out in a report entitled “Food Security Is National Security: Multiple Risks Combined” that the current food inflation rate in the US is 3%, which has put a lot of pressure on household expenses. The US is not the country with the highest food security risk, but import dependence will still spread the pressure of rising prices domestically. Products such as coffee, cocoa, and sugar consumed by the US are mainly imported, and their main suppliers may be directly impacted.

J.P. Morgan recently warned that disruptions in global fertilizer supply and the risk of superstrong El Niño are compounding, and global food prices may rise 5% in the first half of 2027. The energy sector still has strategic oil reserves to cushion shocks, and there is no similar backup plan for fertilizer supply. Once the fertilization period is missed, even if supply is later restored, the reduction in crop production will be difficult to reverse. J.P. Morgan Chase pointed out in a report entitled “Food Security Is National Security: Multiple Risks Combined” that the current food inflation rate in the US is 3%, which has put a lot of pressure on household expenses. The US is not the country with the highest food security risk, but import dependence will still spread the pressure of rising prices to the country. Products such as coffee, cocoa, and sugar consumed by the US are mainly imported, and their main suppliers may be directly impacted.