What's New

The FAO Food Price Index continued to drop slightly in February, reaching almost 19 percent below its March 2022 peak. This represents the eleventh consecutive month of decline.

The FAO Food Price Index continued its nine-month decline in December 2022, falling by an additional 1.9 percent. The decline was driven mostly by falling vegetable oil, cereal, and meat prices. However, overall in 2022, the Index was over 14 percent higher than its 2021 level, reflecting continued high prices driven by conflict, climate, and market concerns.

The latest FAO Food Price Index reports that global food prices fell by 1.5 percent in September. However, the Index remains 5.5 higher than its September 2021 level. The decline from August was driven by significant drops in vegetable oil prices and more moderate drops in sugar, meat, and dairy products; cereal prices rose in September.

Russia's invasion of Ukraine has imperiled global food security—creating suffering within Ukraine and displacing millions, while disrupting agricultural production and trade from one of the world's major exporting regions. The latter threatens to drive rising food prices still higher and create scarcity, especially for regions most dependent on exports from Russia and Ukraine—particularly the Middle East and North Africa.

The FAO Food Price Index continued to rise in September, driven by increasing cereal and vegetable oil prices. The Index was up 1.2 percent from August 2021 and 32.8 percent from September 2020.