JPMorgan: A global food crisis may erupt next year.

JPMorgan recently warned that the next round of the global food crisis may be brewing and could erupt next year. The bank's analysts attribute the driving factors to the "Five Ws": war, weather, warehousing, water, and waste. In a new report titled "Food Security is National Security: A Perfect Storm in the Making," a team led by senior global economist Nora Szentivanyi in London warns that disruptions in shipping through the Strait of Hormuz, along with the potential emergence of a historically strong El Nio phenomenon, could undermine crop yields, constrain agricultural production, and keep food inflation persistently high into the first half of 2027.