The United Nations Food and Agriculture Organization (FAO) reported that its global food price index averaged 130.1 points in July 2025, marking a 1.6% increase compared to the previous month. This rise was mainly driven by higher prices for meat and vegetable oils.
Regarding cereals, the FAO index stood at 106.5 points, representing a 0.8% decrease from June. This decline was due to falling prices of wheat and sorghum, which offset increases in maize and barley prices. Meanwhile, rice prices fell by 1.8%, influenced by abundant export supplies and relatively low import demand.
Vegetable oil prices saw a strong surge, reaching an average of 166.8 points—a 7.1% increase from the previous month—hitting their highest level in three years. This increase was driven by rising prices of palm, soybean, and sunflower oils.
Palm oil prices rose due to robust global demand and improved market competitiveness. Soybean oil benefited from expectations of strong demand from the biofuel sector in the Americas, while sunflower oil prices increased because of export supply shortages in the Black Sea region. Conversely, rapeseed oil prices declined following the arrival of the new European harvest.
The meat price index averaged 127.3 points in July, marking a 1.2% monthly increase and a 6% rise compared to the previous year. In contrast, dairy product prices saw a slight decrease, with the index falling to 155.3 points—the first drop since April 2024—although still 21.5% above its value in July of the same year.
Finally, the sugar price index continued its downward trend for the fifth consecutive month, declining by 0.2% to 103.3 points. This decrease is attributed to expectations of increased global production for the 2025/26 season, especially in countries like Brazil, India, and Thailand. However, the fall was moderated by signs of a potential recovery in global import demand.