Global Food Prices Fall 1.2%, Up 5.9% Yearly

Global food prices fell 1.2% in October to 133.9 points as lower cereal, dairy and meat prices outweighed increases in sugar and vegetable oils, according to the U.N. Food and Agriculture Organization. The index remained 5.9% above its level a year earlier but 16.4% below its March 2022 peak. Cereal prices led the declines, with wheat and maize pressured by weak demand, improved supply prospects and expectations of fewer constraints on Black Sea exports. Sugar prices rose 6.6% to their highest level since December 2024, as weather disrupted harvesting in Brazil.