The FAO Food Price Index increased by 1.9% in August, with prices rising across all major commodity groups. Wheat quotations climbed 2.6% during the month and stood 15% above last year’s level as Black Sea logistics disruptions, adverse European weather and uncertainty over key trade flows added fresh risk premiums to grain markets.

The benchmark for international food commodity prices rose in August as adverse weather, geopolitical tensions and disruptions to critical trade routes intensified concerns over global supply prospects.

The FAO Food Price Index averaged 133.3 points in August 2026, up 1.9% from its revised July level and 2.5% from a year earlier, according to data released by the Food and Agriculture Organization of the United Nations.

All five commodity groups covered by the index recorded monthly increases, although the scale of the gains varied considerably. The overall index remained 16.8% below the record level reached in March 2022. “August’s increase in global food prices is a warning that the risk premium is returning to food markets: climate shocks, geopolitical tensions and disrupted trade logistics are converging to tighten supply expectations,” FAO Chief Economist Maximo Torero said. Torero stressed that resilient food systems, open trade and secure access to agricultural inputs had become central to maintaining global food-price stability.

SUGAR RECORDS THE SHARPEST INCREASE

The FAO Sugar Price Index surged by 11.9% to its highest level since June 2025, driven by weather-related production concerns in the EU, Asia and Brazil, as well as India’s decision to allow duty-free raw sugar imports.

The Vegetable Oil Price Index rose by 0.6%, as higher palm and soy oil quotations outweighed declines in sunflower and rapeseed oils. Dairy prices increased by 2.3% on tighter EU milk supplies, while the Meat Price Index gained 1%.