World Food Prices Hit Highest Level Since 2023

2026-08-07 08:08 By Joana Taborda 1 min. read

The FAO Food Price Index rose 0.6% to 131.1 points in July 2026, the first increase in three months and reaching the highest level since January 2023.

Sugar prices jumped 5.6%, amid concerns about the potential impacts of persistent hot and dry weather on crop yields in the EU and of El Niño-related weather conditions on production prospects in key producing countries in Asia.

Also, cereals went up 3.4%, with wheat prices soaring 5.8% amid heightened concerns over continued disruptions to Black Sea export flows and damage to export infrastructure, as well as the impact of recent heatwaves on crop yields in several producing countries.

Prices for vegetable oils increased 2% to June 2022-highs, reflecting higher palm and soy oil prices.

On the other hand, meat prices decreased 2.8%, the first monthly decline in 2026, reflecting lower quotations across all meat categories except ovine meat.

Dairy cost edged down 0.7% to the lowest since October 2023, led by butter and milk powders.



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World Food Prices Hit Highest Level Since 2023
The FAO Food Price Index rose 0.6% to 131.1 points in July 2026, the first increase in three months and reaching the highest level since January 2023. Sugar prices jumped 5.6%, amid concerns about the potential impacts of persistent hot and dry weather on crop yields in the EU and of El Niño-related weather conditions on production prospects in key producing countries in Asia. Also, cereals went up 3.4%, with wheat prices soaring 5.8% amid heightened concerns over continued disruptions to Black Sea export flows and damage to export infrastructure, as well as the impact of recent heatwaves on crop yields in several producing countries. Prices for vegetable oils increased 2% to June 2022-highs, reflecting higher palm and soy oil prices. On the other hand, meat prices decreased 2.8%, the first monthly decline in 2026, reflecting lower quotations across all meat categories except ovine meat. Dairy cost edged down 0.7% to the lowest since October 2023, led by butter and milk powders.
2026-08-07
World Food Prices Fall for 2nd Month
The FAO Food Price Index declined for a second consecutive month, easing to 130.3 in June 2026 from 130.8 in May. Cereals led the decline, with prices falling 3.5%, as wheat dropped 4.4% amid rapid harvest progress and favorable supply prospects in the Black Sea region, outweighing concerns over crop conditions in the US and Australia. Sugar prices also fell 5.7%, as lower domestic ethanol prices in Brazil encouraged mills to divert more sugarcane toward sugar production. However, concerns about the potential impact of El Niño on the 2026/27 sugar harvests in major producers such as India and Thailand helped limit the decline. Dairy prices slipped 1.5%, reaching their lowest level since 2023, with weaker prices across all major products. In contrast, meat prices edged up 0.4% to a fresh record high, driven primarily by higher poultry prices. Vegetable oil prices rose 3.8%, supported by stronger palm and rapeseed oil quotations, while sunflower oil prices remained broadly stable.
2026-07-03
World Food Prices Remain Close to 2023 Highs
The FAO Food Price Index edged down 0.2% to 130.8 points in May 2026 from an upwardly revised 131 points in April which was the highest reading since January 2023. Prices of cereals rose 2.6% reaching the highest level since June 2024, reflecting higher prices across all major cereals. World wheat prices rose for the fourth consecutive month, supported by smaller-than-expected harvests in major exporters, including the US, while higher fuel and fertilizer costs added further upward pressure globally. In addition, sugar prices soared 7.5% mainly driven by concerns over an anticipated tightening of global sugar supplies in the coming months. Meat costs edged up 0.1% with higher quotations for bovine and ovine meat. In contrast, dairy prices decreased 0.5% to reach the lowest level since January 2024 and vegetable oils cost tumbled 4.6% mainly driven by lower prices of palm and soy oils, which more than offset increases in rapeseed oil and sunflower oil prices.
2026-06-05