FAO Reports February Rise in Food Price Index

According to the FAO's latest update, the food price index rose by 0.9 percent in February, averaging 125.3 points, marking an end to a five-month downward trend. This increase was primarily influenced by higher world wheat prices due to frost reports in Europe and ongoing logistical disruptions in the Russian Federation and the wider Black Sea region.

The FAO cereal price index increased by 1.1 percent from January. Additionally, the FAO vegetable oil price index rose by 3.3 percent, reaching its highest level since June 2022, driven by strong global import demand and lower output in Southeast Asia.

The meat price index also saw a 0.8 percent increase, with ovine meat prices hitting a record high and bovine meat prices rising due to strong import demand from China and the United States. Conversely, the dairy price index fell by 1.2 percent, mainly due to lower cheese prices, while the sugar price index decreased by 4.1 percent compared to January and 27.3 percent compared to February 2025, amid expectations of ample global supply for the current season.