The FAO Food Price Index increased for the first time in three months to 123.9 in July 2023 from an upwardly revised 122.4 in June which was the lowest since April 2021. Prices for vegetable oils surged 12.1%, the first increase in eight months, driven by higher world quotations across sunflower, palm, soy, and rapeseed oils. On the other hand, sugar cost went down 3.9%, amid good progress of the 2023/24 sugarcane harvest in Brazil, and improved rains benefiting soil moisture conditions across most growing areas in India. Also, prices for cereals decreased 0.5%, due to a 4.8% fall in international coarse grain prices. Dairy cost declined 0.4%, a seventh straight month of declines, led by lower quotations for skim milk powder and butter, underpinned by subsided market activities in Europe during the summer holidays and muted interest in import demand in the months ahead due to market uncertainty over the future directions of prices. Meat prices also fell 0.3%, led by bovine meat. source: Food and Agriculture Organization of the United Nations

Food Price Index in World averaged 86.43 Index Points from 1990 until 2023, reaching an all time high of 159.70 Index Points in March of 2022 and a record low of 50.50 Index Points in May of 2002. This page includes a chart with historical data for World Food Price Index. World Food Price Index - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

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World Food Price Index



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-07 08:00 AM Jun 122.3 124.0
2023-08-04 08:00 AM Jul 123.9 122.4
2023-09-08 08:00 AM Aug 123.9


Related Last Previous Unit Reference
Sugar Price Index 146.30 152.20 Index Points Jul 2023
Oils Price Index 129.80 115.80 Index Points Jul 2023
Meat Price Index 117.80 118.10 Index Points Jul 2023
Dairy Price Index 116.30 116.70 Index Points Jul 2023
Cereals Price Index 125.90 126.60 Index Points Jul 2023

World Food Price Index
The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices weighted by the average export shares of each of the groups over 2014-2016. The FFPI is calculated as the trade-weighted average of the prices of food commodities spanning the key agricultural markets for cereals, vegetable oils, sugar, meat and dairy products. While these commodities represent about 40 percent of gross agricultural food commodity trade (FAOSTAT), they are chosen for their high and strategic importance in global food security and trade.
Actual Previous Highest Lowest Dates Unit Frequency
123.90 122.40 159.70 50.50 1990 - 2023 Index Points Monthly
2014-2016=100

News Stream
World Food Prices Edge Higher in July
The FAO Food Price Index increased for the first time in three months to 123.9 in July 2023 from an upwardly revised 122.4 in June which was the lowest since April 2021. Prices for vegetable oils surged 12.1%, the first increase in eight months, driven by higher world quotations across sunflower, palm, soy, and rapeseed oils. On the other hand, sugar cost went down 3.9%, amid good progress of the 2023/24 sugarcane harvest in Brazil, and improved rains benefiting soil moisture conditions across most growing areas in India. Also, prices for cereals decreased 0.5%, due to a 4.8% fall in international coarse grain prices. Dairy cost declined 0.4%, a seventh straight month of declines, led by lower quotations for skim milk powder and butter, underpinned by subsided market activities in Europe during the summer holidays and muted interest in import demand in the months ahead due to market uncertainty over the future directions of prices. Meat prices also fell 0.3%, led by bovine meat.
2023-08-04
World Food Prices Fall to Fresh 2-Year Low
The FAO Food Price Index fell for a second month to 122.3 in June 2023, a fresh low since April 2021, from a downwardly revised 124 in May. The reading is also well below the record peak of 159.7 reached in March last year. Cost of cereals went down 2.1%, reflecting a fall in the world prices of all major cereals, led by coarse grains (-3.4%), namely maize and wheat. Vegetable oil prices dropped 2.4% to the lowest level since October 2020, with falling prices for palm and sunflower oils more than offsetting higher soy and rapeseed oil. Also, dairy prices edged 0.8% lower, led by cheese, amid ample export availabilities, especially in Western Europe. Sugar cost declined for the first time in five months (-3.2%), due to good progress of the 2023/24 sugarcane harvest in Brazil and a sluggish global import demand, particularly from China. Moreover, meat prices were little changed as increases poultry and pig meats were nearly offset by declines in quotations for bovine and ovine meats.
2023-07-07
World Food Prices Lowest in 2 Years
The FAO Food Price Index fell to 124.3 in May 2023, the lowest since April 2021, and compared to an upwardly revised 127.7 in April. Prices for vegetable oils went down 8.7%, a 6th consecutive decline, due to lower prices across palm, soy, rapeseed and sunflower oils. Also, cost of cereals fell 4.8%, standing now 25.3% below its record-high a year ago, prompted by a 3.5% decline in wheat prices due to prospects for ample global supplies in the upcoming 2023/24 season and the extension of the Black Sea Grain Initiative. In addition, cost of dairy dropped 3.2%, amid a steep drop in cheese prices. On the other hand, meat prices rose 1%, the 4th consecutive increase, amid higher demand for poultry and bovine meat. Also, sugar prices extended gains for a 4th month and were up 5.5%, amid rising concerns over how the development of the El Niño phenomenon may affect the 2023/24 crops, together with lower-than-earlier-expected global availabilities in the 2022/23 season.
2023-06-02