FAO: Global food prices rise in July

The UN Food and Agriculture Organization's (FAO) Food Price Index averaged 131.1 points in July 2026, up 0.6% from June, driven by higher prices for cereals, sugar and vegetable oils.

According to the FAO, cited by Report, the increase was partly offset by lower prices for meat and dairy products.

The index was 1% higher than in July 2025 but remained 18.2% below its peak reached in March 2022.

Cereal prices rose 3.4% month-on-month and 6.9% year-on-year, with wheat up 5.8% due to disruptions to Black Sea exports and hot weather in major producing countries, while corn gained 3.6% amid drought in the United States and geopolitical tensions.

The vegetable oil price index climbed 2% to its highest level since June 2022, despite lower sunflower and rapeseed oil prices. The dairy price index fell 0.7%, down 24.8% from a year earlier, while meat prices declined 2.8%, marking their first monthly drop this year. Sugar prices rose 5.6% due to drought in the European Union and weaker production prospects in Asia.