The Food and Agriculture Organization of the United Nations (FAO) reported that the global food price benchmark declined in October. The FAO Food Price Index, which tracks monthly changes in international prices of globally traded commodities, averaged 133.9 points in October 2026.
Global food price trends in October
Compared with September, the index fell 1.6 points, equivalent to a 1.2 percent decline. Despite the overall decrease, the index was 5.9 percent above its October 2025 level but still 16.4 percent below the record high recorded in March 2022.
Changes by commodity group
- The cereal price index fell 4.5 percent compared with September. The drop followed four months of continuous increases in world wheat prices and was driven by weaker international demand and improved harvest prospects, especially in Argentina. Expectations of easing export restrictions from the Black Sea region also exerted downward pressure, although logistical disruptions limited the decline.
- Maize prices fell from a three-year high amid the arrival of the new U.S. harvest and expectations of supplies from South America.
- The rice price index rose 1.6 percent due to harvest delays and unfavorable weather conditions.
- In the meat segment, the index declined 1.2 percent, driven by lower pork, lamb and beef prices, while poultry prices remained stable.
- The dairy price index fell 1.1 percent amid lower butter and cheese quotations.
- Rising sugar and vegetable oil prices offset declines in cereal, dairy and meat quotations.
- The vegetable oil price index rose 0.3 percent from September due to higher soybean and sunflower oil prices.
- Sugar prices are rising for the fourth consecutive month.
Context
The global food price data are provided by the Food and Agriculture Organization of the United Nations (FAO). The text mentions Argentina, a country whose population as of 2022 was 47,327,407.
The overall weakening of import demand was a key factor contributing to the decline in price indices for cereals, dairy and meat in October.
