Global Food Prices Remain at 2023 Peaks

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The FAO Food Price Index was at 130.1 in August 2025, the highest since February 2023, and little changed from 130 in July. Vegetable oil prices went up 1.4% to the highest level since June 2022, driven by quotations for palm, sunflower and rapeseed oils, which more than offset a slight decline in soyoil values. Meat cost increased 0.6% to reach a new record high, driven by continuing higher bovine and ovine meat prices, which outweighed stable pig meat quotations and lower poultry meat prices. Also, sugar prices edged up 0.2%, mostly driven by concerns over Brazil’s production outlook, amid reduced sugarcane yields and low sugar recovery rates in key southern growing regions. On the other hand, dairy prices fell 1.3%, reflecting lower international prices for butter, cheese, and whole milk powder. Cereals cost fell 0.8% to the lowest since September 2020. Wheat prices declined amid ample global supplies and subdued import demand, especially from major buyers in Asia and North Africa.

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