Food prices are rising at a record pace worldwide, and this is just the beginning

The UN Food and Agriculture Organization (FAO) reported a 1.5% increase in global food prices in September. Grains rose the most (+5.1% monthly, +17.2% yearly), followed by vegetable oils (+0.9% monthly, +18.3% yearly) and sugar (+6.1% monthly, +14.7% yearly). Meat prices fell by 1.1%, while dairy remained nearly unchanged. Experts warn of risks linked to the El Niño climate phenomenon.

The UN Food and Agriculture Organization (FAO) recorded a 1.5% rise in global food prices in September compared to August. Over the past 12 months, food prices worldwide have increased by 5.8%. However, the overall FAO Food Price Index remains 15.1% below the historic peak of March 2022. The most notable increase among categories was in grains: their cost rose by 5.1% monthly and 17.2% annually. One reason cited is trade disruptions in the Black Sea region, which limited export supplies of wheat and corn. Vegetable oils rose by 0.9% monthly and 18.3% annually, driven mainly by higher palm oil prices, partially offset by a decline in sunflower oil costs. Sugar has been rising for the third consecutive month: in September, the increase was 6.1%, and over the year, 14.7%, reaching its highest level since April 2025 amid expectations of reduced global supply. Meat, on the other hand, fell by 1.1% monthly, returning to year-ago levels, mainly due to lower poultry and pork prices. Dairy products remained nearly unchanged, down 0.1% monthly but 19.1% cheaper year-on-year. Experts warn that future dynamics could be affected by the El Niño climate phenomenon, which may cause a sugar deficit and impact production of rice, cocoa, coffee, and palm oil. Its peak impact is expected in late 2026.