Global food prices rose by 1.5% in September compared with the revised August figure, driven by higher prices for grains, vegetable oils, and sugar, according to the monthly report by the FAO (the Food and Agriculture Organization of the United Nations).
The FAO Food Price Index stood at 136 points in September, 2 points (1.5%) higher than the revised August figure. The index was 5.8% higher than in September 2025 but 15.1% below the peak reached in March 2022.
The Cereal Price Index rose by 5.1% compared with August and by 17.2% compared with September 2025. On a monthly basis, global wheat prices rose by 6.3%, reaching their highest level since August 2023. However, the report notes that daily prices declined somewhat toward the end of the month.
“This increase was primarily driven by logistical challenges in the Black Sea region, which prompted importers to turn to alternative suppliers. Drought conditions in some parts of North America ahead of the winter wheat planting season were an additional factor driving price increases,” the document states.
Global corn prices rose 5.6% compared to August and reached their highest level in the past three years. This is due to a projected decline in supply caused by lower-than-expected yields in the U.S. and reduced export capacity in Brazil. “Trade disruptions in the Black Sea region have led to a reduction in corn export supply, while ongoing uncertainty regarding shipping through the Strait of Hormuz has fueled concerns about high costs for fuel, fertilizers, and freight. This exerted additional upward pressure on commodity prices, especially for biofuel production, particularly corn,” the report states.
The price index for all types of rice rose by 1.4% amid higher prices for long-grain rice (indica) due to concerns about weather conditions and a seasonal decline in supply.
The vegetable oil price index in September was 0.9% higher than in August and 18.3% higher year-over-year. The increase was primarily driven by rising global prices for palm oil, which fully offset the decline in sunflower oil prices. Sunflower oil prices fell for the third consecutive month amid forecasts of abundant supply in the Black Sea region; however, ongoing logistical difficulties and limited capacity on alternative export routes prevented prices from falling further, according to the report.
Soybean and canola oil prices remained virtually unchanged over the month.
The meat price index in September fell by 1.1% compared to the revised August figure and is in line with the level from a year ago. This was driven by weaker poultry and pork prices, while beef and lamb prices remained generally stable. Global poultry prices fell amid a significant volume of export supply from Brazil and weaker import demand from the EU. Pork prices declined amid substantial supply in major exporting countries. Australian beef export prices fell amid intensifying competition in the global market, while prices in Brazil rose as demand from the U.S. picked up. Lamb prices remained virtually unchanged.
The dairy price index in September was 0.1% lower than in August. On a year-over-year basis, prices fell by 19.1%.
“The decline in cheese prices was almost entirely offset by rising prices for dry milk, while butter prices remained virtually unchanged,” the report states. “Prices for nonfat dry milk were 33.1% higher than last year’s level, and prices for dry milk rose in all major exporting countries due to sustained import demand, particularly from Asian countries.”
The sugar price index in September was 6.1% higher than in August and 14.7% higher than in September 2025. The index has been rising for the third consecutive month and is at its highest level since April 2025.
The increase is primarily driven by the projected decline in global sugar supply during the 2026/27 agricultural season. In particular, it is expected that a reduction in planted acreage and unfavorable weather conditions during the growing season in the EU will lead to a decline in the sugar beet harvest. A decline in sugar production is forecast for Thailand, and the outlook for India is also less favorable. In addition, delays in the harvest in Brazil’s key sugarcane-growing region due to heavy rains have exerted additional upward pressure on global sugar prices.
The FAO Food Price Index is a weighted average that tracks changes in international prices for five major food commodity groups.
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