Meat prices push FAO food price index higher in July

The FAO Food Price Index averaged 130.1 points in July 2025, rising 1.6% from June, mainly due to increases in international meat and vegetable oil prices. Despite this monthly gain, the index remains 18.8% below its March 2022 peak but 7.6% above July 2024 levels.

The FAO Meat Price Index reached a new all-time high of 127.3 points, up 1.2% from June. Price increases were led by bovine and ovine meat, driven by strong import demand from China and the US.

Poultry meat prices also rose slightly following the resumption of imports from key partners after Brazil regained its avian influenza-free status. In contrast, pig meat prices declined due to abundant supplies and reduced demand, especially in the EU.

Vegetable oil prices also contributed to the overall rise, with the FAO Vegetable Oil Price Index climbing 7.1% to 166.8 points, a three-year high. Increases were noted for palm, soy, and sunflower oils, supported by robust global demand and supply constraints in key producing regions.

Other commodity prices varied, with the FAO Cereal Price Index dropping 0.8% to 106.5 points, pressured by wheat and sorghum price declines despite gains in maize and barley. 

The FAO Dairy Price Index edged down 0.1%, reflecting lower butter and milk powder prices amid abundant supplies, though cheese prices continued to rise. The FAO Sugar Price Index fell 0.2%, marking a fifth consecutive monthly decline amid expectations of global production recovery.