Translated with AI
Global food prices fell in October, according to the Food and Agriculture Organization of the United Nations (FAO).
The FAO Food Price Index, which tracks monthly changes in international quotations for staple foods, stood at 126.4 points in October, down 1.6 percent from September.
The grain price index fell 1.3 percent compared to September, with declines across all major grains. Wheat prices fell 1 percent, while rice prices fell 2.5 percent.
The meat price index fell by 2 percent, primarily due to lower pork and poultry prices. However, beef prices continued to rise, driven by strong Australian prices amid robust global demand.
The dairy price index fell by 3.4 percent, driven by a decline in butter prices due to abundant export supplies from the European Union and New Zealand. The price of powdered milk also declined amid limited import demand and intense competition among exporters.
The average price of sugar fell by 5.3 percent to its lowest level since December 2020, driven by strong production in Brazil and expected growth in export stocks in Thailand and India.
The vegetable oil price index, on the other hand, increased by 0.9 percent, reaching its highest level since July 2022. The rise in prices for palm, rapeseed, soybean, and sunflower oils was due to delays in harvesting in the Black Sea region.
At the same time, the FAO updated its forecast for global grain production in 2025. Growth is expected by 4.4 percent, reaching a record 2.99 billion tonnes. Production is projected to increase for all major grain crops. Global grain stocks are expected to increase by 5.7 percent, reaching 916.3 million tonnes, and the stock-to-use ratio in the 2025–2026 season is projected to be 31.1 percent—the highest since 2017–2018.
