The FAO Food Price Index rose +1.6% MoM to 130.1 in July 2025, up 7.6% YoY, as gains in meat and vegetable oils outweighed declines in cereals, dairy, and sugar.

• The Cereal Price Index fell -0.8% MoM and -3.8% YoY, with wheat and sorghum prices down but barley and maize up; rice dropped -1.8% MoM.
• The Vegetable Oil Index jumped +7.1% MoM to a three-year high, led by palm, soy, and sunflower oil; rapeseed oil fell.
• The Meat Price Index rose +1.2% MoM and +6.0% YoY to a record high, driven by bovine and ovine meat; poultry edged up while pig meat declined.
• The Dairy Price Index dipped -0.1% MoM but surged +21.5% YoY, with butter and milk powders down and cheese prices up.
• The Sugar Price Index slipped -0.2% MoM and -13.5% YoY, marking a fifth straight monthly drop on expectations of higher 2025/26 output.