The ongoing conflict involving the United States and Israel against Iran has led to a significant spike in Brent crude oil prices, reaching $119.5 per barrel in March 2026. However, unlike previous energy crises in 2008 and 2022, global food prices have remained stable, with the FAO Food Price Index showing only a 1% increase year-on-year. This stability is largely due to record global production levels of essential crops, including wheat, corn, and sugar, which are projected to reach 844.2 million tonnes for wheat and 1,301.1 million tonnes for corn in the 2025-26 season. Despite this, concerns remain regarding potential future food price increases driven by rising costs of fertilizers and the diversion of crops for biofuel production. Countries like Indonesia are implementing strict biofuel blending mandates, which could further impact food supply dynamics. The situation remains fluid, and the duration of the current energy crisis will be crucial in determining future food price trends.