Global food prices recorded an “almost broad-based decline” in September, the United Nations Food and Agriculture Organization (FAO) said Friday.
In a statement published on its website, the FAO said its Food Price Index averaged 128.8 points in September, down from 129.7 in August, “driven by lower prices for cereals, vegetable oils, dairy products and sugar.”
The fall was “partly offset” by a rise in meat prices, which reached a record high, the FAO noted.
Year-on-year, the index was up 3.4 percent compared with September 2024, but still 19.6 percent below its all-time peak of March 2022.
Among the main trends:
- the cereal price index fell by 0.6 percent, reflecting abundant harvests in Russia, Europe and North America, as well as Argentina’s temporary suspension of export taxes;
- rice prices also dropped, weighed down by lower import demand in Asia and Africa;
- vegetable oils slipped 0.7 percent, as palm and soybean oil quotations fell, despite higher prices for sunflower and rapeseed oil;
- dairy prices declined 2.6 percent, with the FAO citing “increased supplies” and “weaker demand”;
- sugar plunged 4.1 percent, hitting “its lowest level since March 2021,” due to higher-than-expected production in Brazil and favorable crop prospects in India and Thailand.
By contrast, meat prices rose 0.7 percent, supported by strong demand for beef — particularly in the United States and Australia — and higher sheep meat prices in Oceania.
