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Global food commodity prices climbed to their highest level since February 2023, according to the United Nations Food and Agriculture Organization (FAO). The FAO’s Food Price Index averaged 130.1 points in the latest reading, marking a two-year high.
The increase was primarily driven by sharp rises in vegetable oil and meat prices, which more than offset declines in cereal and sugar prices. The FAO attributed the surge in vegetable oil costs to tighter global supplies and increased demand, while meat prices rose due to strong import demand and supply constraints in key producing regions.
The latest data underscores persistent volatility in global food markets, raising concerns over affordability and food security in vulnerable economies.
