FAO: Global Food Prices Reach Highest Level Since Late 2022

Global food prices climbed to their highest level since late 2022 in August, with increases across all five commodity groups tracked by the United Nations Food and Agriculture Organization.

The FAO Food Price Index averaged 133.3 points, up 1.9 percent from July and 2.5 percent from a year earlier. Sugar recorded the sharpest rise, jumping 11.9 percent month on month to its highest level since June 2025.

The increase reflected concerns about global sugar supplies for the 2026-2027 period. Hot, dry weather in the European Union and parts of Asia, lower production in Brazil and India’s decision to allow duty-free imports of raw sugar also contributed.

The cereal price index rose 2.2 percent, reaching its highest level since May 2024. Wheat prices increased 2.6 percent amid disruptions to export logistics in the Black Sea region, weaker production prospects in parts of Europe because of hot, dry weather and a weaker U.S. dollar. Corn prices rose 2.5 percent as concerns grew over yields in parts of the United States and the European Union, while ethanol and animal-feed demand remained strong and Ukrainian exports faced disruptions.

Vegetable oil prices rose 0.6 percent, marking a third consecutive monthly increase and reaching their highest level since June 2022. Meat prices rose 1 percent, driven by poultry, pork and lamb, while dairy prices increased 2.3 percent, their first rise in four months. Despite the August increase, the index remained 16.8 percent below its record high from March 2022.