The Food and Agriculture Organization of the United Nations (FAO) Food Price Index averaged 131.1 points in July 2026, up 0.6% from June.
The increase was driven by higher prices for cereals, sugar, and vegetable oils, partially offset by lower prices for meat and dairy products.
Compared to July 2025, the index rose 1%, but remains 18.2% below its peak in March 2022.
Cereal prices rose 3.4% month-on-month and 6.9% year-on-year. Wheat prices increased 5.8% due to halted exports in the Black Sea region and heat in major producing countries. Maize rose 3.6% due to drought in the United States and geopolitical tensions.
The vegetable oil price index reached its highest level since June 2022 (+2%), despite lower prices for sunflower and rapeseed oils. The dairy price index fell 0.7% (down 24.8% from July 2025). Meat prices declined 2.8%, the first drop since the start of the year. Sugar prices rose 5.6% due to drought in the EU and unfavorable forecasts in Asia.