FAO food price index falls 1.2% as grain prices drop

World food prices fell in October 2026, the UN Food and Agriculture Organization (FAO) said in its release on 6 November. Its Food Price Index stood at 133.9 points, down 1.2% from September’s revised level.

Lower grain, meat and dairy prices drove the fall. Oils edged up, while sugar rose more sharply, the FAO said.

The overall index was still 5.9% above its level a year earlier. It was 16.4% below the peak reached in March 2022.

The grain index fell 4.5% to 116.8 points. Wheat prices dropped after four months of gains. The FAO linked this to weak demand and better crop prospects, chiefly in Argentina.

Maize also fell as the US harvest added supply. Markets expected ample stocks from major sellers in South America. Rice went the other way: its index rose 1.6% as harvest delays, poor weather and higher costs added pressure.

The meat index dropped 1.2% to 125.5 points. The FAO said pork prices fell in the EU, where supplies were high and export outlets few.

Dairy prices fell 1.1%, taking that index to 117.8 points. Ample supplies and weak buying weighed on butter and cheese, above all in the EU. Prices for skimmed milk powder rose as steady demand met scarce stocks for prompt delivery.

The oil index rose 0.3% to 199.2 points. Soya oil gained as fuel makers bought more and South American supplies fell with the season, the FAO said. Rapeseed oil fell as supplies grew and demand for use in fuel fell short of forecasts.

The FAO also reported a sharp rise in its sugar index.