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Data from the Food and Agriculture Organization of the United Nations (FAO) showed that global food prices rose in October to their highest level in 18 months.
Vegetable oils led the increases seen across most major food commodities.
The FAO Food Price Index, which tracks the prices of the most globally traded food commodities, rose by 2% to 127.4 points last month, compared with a revised 124.9 points in September.
FAO said prices rose for all commodity groups except meat.
Vegetable oil prices jumped by more than 7% from the previous month, supported by concerns over palm oil production.
The organization said continued concerns over production prospects in Brazil, the world’s largest sugar exporter, during 2024 and 2025 supported a more moderate increase in sugar prices in October, which rose by 2.6%.
Cereal prices increased by 0.8% compared with September.
FAO added that wheat prices rose amid concerns over planting conditions in the Northern Hemisphere, while corn prices also increased.
Dairy prices rose by around 2%, supported by stronger demand for cheese and butter amid tight supply.
Meat prices fell overall by 0.3%. Poultry prices declined, while beef prices rose because of stronger global demand.