The FAO Food Price Index climbed 1.9% to 133.3 points in August 2026, its second consecutive monthly gain and the highest reading since November 2022. The increase was broad-based, with all major commodity groups posting rises.
Sugar prices recorded the sharpest jump, surging 11.9% to their highest level since June 2025, amid mounting concerns about the global sugar supply outlook for the 2026/27 season. Dairy prices rose 2.3%, supported by higher quotations for milk powders and cheese.
Cereal prices advanced 2.2% to their highest level since May 2024, underpinned by firm global demand, weather-related worries over crop prospects in key producing regions, and ongoing uncertainty surrounding export flows from the Black Sea. Meat prices increased 1%, reflecting higher prices for poultry, pig, and ovine meat.
Vegetable oil prices edged up 0.6% to their highest level since June 2022, as gains in international palm and soy oil prices more than offset declines in sunflower and rapeseed oil quotations.
