WorldRecord harvests but millions go hungry

War, disrupted shipping and a strengthening El Niño appear to be converging into a new global food shock. International food prices, however, remain below their 2022 peak. Record harvests, substantial grain reserves and continued Ukrainian exports have so far kept supplies moving worldwide. The more profound crisis is access: conflict, displacement and blocked aid are leaving millions hungry despite well-stocked warehouses. The global food buffer is holding for now, but the risks are accumulating.