The FAO Food Price Index fell 1.2 percent month-on-month in October, while rising 5.9 percent year-on-year. Cereal, dairy and meat price indices all declined from the previous month, while vegetable oil prices rose slightly and sugar prices rose sharply.
Cereals and Rice diverge
The FAO Cereal Price Index fell 4.5 percent month-on-month in October, though it remained 12.6 percent higher than a year earlier. Wheat prices fell after four consecutive monthly rises, due largely to weak international demand and improved production prospects in Argentina. Expectations of easing Black Sea export restrictions added downward pressure, although ongoing logistics disruptions limited the decline.
International maize prices also fell after reaching a three-year high in September. Rice moved the other way. The FAO All Rice Price Index rose 1.6 percent in October, reflecting harvest delays, weather and rising costs in some exporting countries.
Oils, sugar and meat
The FAO Vegetable Oil Price Index edged up 0.3 percent month-on-month but was 17.6 percent higher year-on-year. Soy oil prices reached their highest level since late 2022. Palm oil stayed high compared with a year earlier.
Meat prices fell 1.2 percent month-on-month, though the index was still 0.4 percent higher than in October 2025. Brazil’s poultry export prices were largely unchanged despite import restrictions that followed a Newcastle disease outbreak in Santa Catarina state on October 18.
Dairy prices fall from last year
The FAO Dairy Price Index dropped 1.1 percent month-on-month and stood 16.9 percent lower year-on-year. Butter prices were down 31.1 percent and cheese prices 29.3 percent from October 2025. Skimmed milk powder was the exception, up 45.8 percent over the same period.
Source: FAO
