From the Food and Agriculture Organization of the United Nations, August 8:
» The FAO Food Price Index* (FFPI) averaged 130.1 points in July 2025, marking an increase of 2.1 points (1.6 percent) from June. While the price indices for cereals, dairy and sugar declined, they were outweighed by increases in the indices for meat and vegetable oils. Overall, the FFPI was 9.2 points (7.6 percent) higher than in July 2024, yet remained 30.1 points (18.8 percent) below its peak reached in March 2022.
» The FAO Cereal Price Index averaged 106.5 points in July, down 0.8 points (0.8 percent) from June and 4.2 points (3.8 percent) from July 2024. Global export prices of barley and maize rose, while those of sorghum and wheat declined. Abundant seasonal supplies from ongoing winter wheat harvests in the northern hemisphere placed downward pressure on prices; however, below average conditions for spring wheat in parts of northern America, coupled with reluctant farmer selling in Europe and the Black Sea region, provided some support. Slow farmer selling interest also weighed on international maize prices, as did dry conditions in Eastern Europe and parts of Ukraine and reduced export availabilities from Argentina and Brazil, due to export taxes and stronger domestic demand, respectively. Meanwhile, the FAO All Rice Price Index fell by 1.8 percent in July 2025, as ample exportable supplies and lacklustre import demand continued to weigh on prices.
» The FAO Vegetable Oil Price Index averaged 166.8 points in July, up 11.1 points (7.1 percent) month-on-month and reaching a three-year high. The increase was driven by higher quotations for palm, soy and sunflower oils, more than offsetting the decline in rapeseed oil prices. International palm oil prices rose for the second consecutive month in July, primarily underpinned by continued robust global import demand fuelled by improved price competitiveness compared to other vegetable oils. Meanwhile, soy oil quotations were bolstered by prospects of firm feedstock demand from the biofuel sector in the Americas, while sunflower oil prices rose due to seasonally tightening supplies in the Black Sea region. By contrast, global rapeseed oil prices declined in July, mainly pressured by the arrival of new crop supplies in Europe.
» The FAO Meat Price Index averaged 127.3 points in July, up 1.5 points (1.2 percent) from June and 7.3 points (6.0 percent) from July 2024, and reaching a new all-time high. The increase was primarily driven by higher bovine and ovine meat prices, along a slight increase in poultry meat quotations, while pig meat prices declined. Global bovine meat prices reached a new record high, supported by higher quotations in Australia, underpinned by strong import demand, particularly from China and the United States of America, which outpaced available export supplies. Robust global demand also contributed to firmer prices in Brazil. Ovine meat prices increased markedly for the fourth consecutive month, reflecting limited export supplies from Oceania amid sustained global demand. Poultry meat prices edged up slightly, bolstered by higher Brazilian export prices following the easing of restrictions and the gradual resumption of imports by several key trading partners after Brazil regained its high pathogenicity avian influenza (HPAI)-free status in mid-June. By contrast, pig meat prices declined, mainly due to lower quotations in the European Union, where ample domestic supplies coincided with subdued global purchasing interest.
» The FAO Dairy Price Index averaged 155.3 points in July 2025, down 0.2 points (0.1 percent) from June but 21.5 percent higher than its value in July 2024. The marginal decline – the first since April 2024 – was driven by lower international prices for butter and milk powders, which were largely offset by continued increases in cheese quotations. The butter price index fell by 1.1 percent, marking its first decline in six months, driven primarily by weaker quotations from Oceania, where increased production and rising inventories weighed on prices. However, firm butter prices in the European Union, underpinned by tight cream availability and strong demand, contained the overall drop. The indices for whole and skim milk powders continued to decrease, reflecting ample export supplies from Oceania and subdued import demand, particularly from China and other key Asian markets. By contrast, international cheese prices rose, supported by sustained demand from Asian and Near East markets and reduced export availability in the European Union, although the increases were partially capped by lower quotations in Oceania and the United States of America....
