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The FAO Food Price Index (FFPI) averaged 123.9 points in January 2026, down 0.5 points, or 0.4%, from December. Declines in dairy, meat and sugar price indices outweighed gains in cereal and vegetable oil prices, marking the index's fifth consecutive monthly decline. The index stood 0.8 points, or 0.6%, below its level a year earlier, and 36.4 points, or 22.7%, below its peak reached in March 2022.
The FAO Vegetable Oil Price Index averaged 168.6 points in January, up 3.4 points, or 2.1%, from December, putting it 10.2% above its year-earlier level. The increase reflected higher world prices for palm, soybean and sunflower oils, which offset a decline in rapeseed oil prices. Global palm oil prices rose for a second consecutive month, supported by a seasonal slowdown in production in South East Asia and strong global import demand amid improved price competitiveness. World soybean oil prices meanwhile rebounded on tighter exportable supplies from South America and expectations of robust demand from the US biofuel sector. World sunflower oil prices, having fallen for two consecutive months in late 2025, also recovered, driven by persistently tight supplies in the Black Sea region, where farmers' sales remained limited. In contrast, rapeseed oil prices slipped slightly, reflecting ample supplies in the European Union following a recent surge in imports.
Source: Al Mal Forum