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Global food commodity prices edged higher in August 2026, according to the latest data from the Food and Agriculture Organization of the United States. The benchmark index rose steadily, underpinned by broad-based gains across all tracked food categories, with vegetable oils leading the upward momentum.
The main international food price benchmark averaged 133.3 points during the month, representing an increase of 2.5 points or 1.9 percent compared to the revised figures for July. While the index registers 3.3 points—or 2.5 percent—above its level from the same period last year, it continues to hold significantly below the historic peak recorded in March 2022 by 26.9 points.
The vegetable oil sector played a pivotal role in the monthly uptick. The dedicated vegetable oil price index climbed to an average of 196.9 points in August. This marks the third consecutive month of gains, pushing the sector to its highest valuation since June 2022. The upward trajectory was primarily sustained by stronger global quotations for palm and soy oils, which comfortably outweighed downward price pressures on sunflower and rapeseed oils.
International palm oil quotations extended their gains, supported by steady global import demand alongside growing anxieties regarding potential weather disruptions linked to El Niño across Southeast Asia. Meanwhile, South American soy oil prices maintained a firm posture on robust export demand, even as values in the United States edged lower amid policy uncertainties surrounding biofuels. Conversely, sunflower and rapeseed oils experienced slight declines due to quieter global import activity and expectations of abundant seasonal supplies.
Source: FAO