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The Food and Agriculture Organisation (FAO) Food Price Index, a key global benchmark for staple food commodity prices, averaged 128.0 points in June 2025, up 0.5% from May. Although international grain and sugar prices declined, these losses were offset by increases in dairy, meat and vegetable oil prices.
The index tracks monthly changes in international prices for a basket of globally traded food commodities. The June 2025 reading was 5.8% higher than the same month a year earlier, though it remains well below the record peak reached in March 2022.
The vegetable oil price index climbed 2.3% from May, driven by higher prices for palm, soybean and rapeseed oil. Palm oil prices rose by around 5% on strong global demand. Soybean oil prices also increased amid expectations of higher biofuel demand in Brazil and the United States, alongside rising soybean prices in South America against a backdrop of robust global demand. Rapeseed oil prices likewise rose on expectations of tighter supplies, while sunflower oil prices fell as production prospects improved in the Black Sea region.