Global food prices rise to highest level in more than three years

Global food prices rose by 0.6% in July, reaching their highest level in more than three years, according to the Food and Agriculture Organization of the United Nations (FAO).

The FAO Food Price Index averaged 131.1 points in July, up 0.6% from June and 1% from the same month a year earlier. Increases in the prices of cereals, sugar and vegetable oils were partly offset by declines in meat and dairy prices.

The FAO’s cereal price index averaged 113.8 points in July, rising 3.4% from June and 6.9% year-on-year. Global wheat prices increased by 5.8% during the month and were 9.9% higher than a year earlier.

Corn prices also rose 3.6% from June, while the rice price index remained unchanged in July.

The vegetable oil price index averaged 195.7 points, up 2% month-on-month and reaching its highest level since June 2022.

Meanwhile, the meat price index averaged 127.7 points in July. Although it fell 2.8% from June, it remained 0.8% above its level a year earlier.

The dairy price index averaged 116.2 points, down 0.7% from June and 24.8% from July 2025. Butter prices declined by 2.4%, while the cheese price index increased 1.7%, marking its first monthly increase since July 2025.

The sugar price index averaged 95 points in July, rising 5.6% from June but remaining 8% below its level a year earlier.

Experts attributed the overall increase primarily to higher cereal, sugar and vegetable oil prices, amid concerns over disruptions affecting grain supplies through the Black Sea and unfavorable weather conditions in major producing regions.