Global Food Prices Rise Again Amid Grains and Vegetable Oils Surge

The Food and Agriculture Organization (FAO) reported that global food prices rose by 1.5% in September to 136.0 points, marking a 5.8% increase from last year's levels.

Cereals drove the month-on-month rise, with the FAO Cereal Price Index increasing by 5.1% and 17.2% year-over-year due to logistics constraints in the Black Sea region and dry weather in North America.

Wheat prices hit their highest level since August 2023, surging 6.3% on the month.