J.P. Morgan recently warned that the next round of the global food crisis may be in the making or break out next year. The bank's analysts attributed the drivers to the “five Ws”: war, weather, storage, water, and waste. In a new report entitled “Food Security Is National Security: A Storm of Compounding,” a team led by Nora Szentivanyi, a senior global economist based in London, warned that disruptions in shipping in the Strait of Hormuz and the emergence of a potentially historically strong El Niño phenomenon could weaken crop production, limit agricultural production, and keep food inflation high in the first half of 2027.

J.P. Morgan recently warned that the next round of the global food crisis may be in the making or break out next year. The bank's analysts attributed the drivers to the “five Ws”: war, weather, storage, water, and waste. In a new report entitled “Food Security Is National Security: A Storm of Compounding,” a team led by Nora Szentivanyi, a senior global economist based in London, warned that disruptions in shipping in the Strait of Hormuz and the emergence of a potentially historically strong El Niño phenomenon could weaken crop production, limit agricultural production, and keep food inflation high in the first half of 2027.