Market-related

The FAO Food Price Index rose by 1.6 percent in July based on increasing meat and vegetable oil prices. The Index remains 7.6 percent higher than its 2024 level but nearly 19 percent below its March 2022 peak.

With the Sustainable Development Goal (SDG) deadline of 2030 fast approaching, the clock is ticking for the world to meet its goal of eradicating hunger and food insecurity. Some progress was made toward this milestone in 2024; however, hunger levels remain above their pre-pandemic levels, according to the 2025 State of Food Security and Nutrition in the World report.

The “Liberation Day” tariffs proposed by the United States on April 2 included a blanket 10% increase for countries with which the U.S. runs bilateral trade surpluses or small deficits, and a range of higher tariffs for 56 economies with which the U.S. runs sizeable trade deficits (excluding Canada and Mexico as partners in the U.S-Canada-Mexico free trade agreement; and Cuba, Russia and North Korea).

The FAO Food Price Index rose 1 percent in April, driven by increasing cereal, dairy, and meat price. While the Index was 7.6 percent higher than its April 2024 level, it remains nearly 20 percent lower than the record reached in March 2022.

The FAO Food Price Index remained stable in March, with falling cereal and sugar prices balancing rising meat and vegetable oil prices. The Index was almost 7 percent higher than its March 2024 level but still remains significantly below March 2022 levels.