FAO says world food prices hit near four-year high in September
This digest was compiled by AI from multiple sources — links to the originals are below.
The UN Food and Agriculture Organization reported that world food prices rose in September to their highest level since November 2022, with its Food Price Index averaging 136.0 points. The increase was driven by logistics disruptions and weather concerns, particularly affecting sugar and wheat markets. FAO Chief Economist Maximo Torero warned that sustained pressures could soon pass through to consumer food prices.
Key Facts
- The FAO Food Price Index averaged 136.0 points in September, up from a revised 134.0 in August and the highest since November 2022.
- International sugar prices reached an 18-month high due to fears of a severe El Niño weather pattern.
- Wheat futures hit a three-year peak early last month following a war-related collapse in Black Sea trade.
- FAO kept its 2026 global cereal production forecast almost unchanged at 2.979 billion metric tonnes, 2.1% below the previous year's peak.
- FAO cut its forecast for world cereal trade in 2026/27 by 0.7% from September, citing lower wheat and maize export expectations.
Price Index Components
FAO's benchmarks for cereal, sugar and vegetable oil prices all rose in September, while meat and dairy quotations fell. The cereal price increase reflected constrained Black Sea shipping routes and weather-related supply concerns. Sugar prices were driven by fears of a severe El Niño weather pattern, pushing them to an 18-month high.
Production and Trade Forecasts
FAO kept its forecast for global cereal production in 2026 almost unchanged at 2.979 billion metric tonnes. This output level is 2.1% below the previous year's peak but still the second-largest harvest on record. FAO cut its forecast for world cereal trade in 2026/27 by 0.7% from September, citing lower wheat and maize export expectations due largely to constrained Black Sea shipping routes.
10 sources
Time · lag behind first