Global Food Prices Hit Near Four-Year Highs Amid Weather Disruptions

Global food prices have reached their highest level in nearly four years due to adverse weather and war disruptions in the Black Sea, according to the United Nations' Food and Agriculture Organization (FAO). The FAO's Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 133.3 points in August, up from July's revised reading of 130.8.

This is the highest score since November 2022, but nearly 17% below a record peak from March 2022. The FAO's price benchmarks for cereals, vegetable oils, sugar, meat, and dairy all rose in August.

Extreme heat and drought in Europe have affected prospects for the maize (corn) and sugar beet harvests as well as livestock output. The anticipated El Nino phenomenon has fueled concerns for palm oil and sugar output in Asia.

The FAO's cereals price index rose 2.2% month-over-month to its highest since May 2024, while the vegetable oil index edged up 0.6% to its highest since June 2022. The agency's sugar benchmark jumped 11.9% to its highest since June 2025.