Key facts
- The FAO Food Price Index averaged 133.9 points in October, down from a revised 135.6 in September.
- The index was 5.9% higher than a year earlier and 16.4% below its March 2022 peak.
- The cereal price index fell 4.5% from September and was 12.6% lower than a year earlier.
- The sugar price index rose 6.6% to its highest level since December 2024 and was 28.8% above a year earlier.
- The dairy index fell 1.1% and the meat index declined 1.2% from September.
World food prices edged lower in October as weaker import demand pulled down cereal, dairy and meat prices, the United Nations' Food and Agriculture Organization said on November 6. The FAO Food Price Index averaged 133.9 points for the month, down from a revised 135.6 in September, and was 5.9% higher than a year earlier.
The index remained 16.4% below its March 2022 peak. The FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year earlier, as wheat and maize quotations declined.
Wheat prices eased on weak import demand and improved production prospects, especially in Argentina, the FAO said. "Expectations of easing constraints on Black Sea export flows added to the downward pressure on prices, although continued disruptions to Black Sea logistics limited the decline," the agency said in a statement.
Maize prices eased after reaching a three-year high in September, held down by the US harvest, expectations of ample supplies in South America and renewed prospects of easing tensions in the Black Sea region.
Vegetable oil prices edged up 0.3% as higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices. Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil, and were 28.8% above a year earlier.
The dairy index fell 1.1% as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder. The meat index declined 1.2%, while still slightly above its year-earlier level, as pig, ovine and bovine meat prices fell.