06.03.2026 17:54
The decline in global food markets that has been ongoing for months gave way to a slight increase in February. According to data from the United Nations Food and Agriculture Organization, the rise in prices of grains, meat, and vegetable oils pushed global food prices up. The food price index published by the organization showed an increase for the first time in five months, indicating that food prices in international markets have started to move again.
The Food and Agriculture Organization of the United Nations (FAO) announced that global food prices increased in February due to rising prices of grains, meat, and vegetable oils.
The Food Price Index published by the organization rose by 0.9% month-on-month in February, reaching 125.3 points. Thus, the downward trend in the index that had lasted for the past five months came to an end. However, the index recorded a 1% decline compared to the same period last year.
DECLINE IN GRAIN PRICES
In FAO's statement, it was noted that "the increase in wheat, vegetable oil, and meat prices balanced the decrease in cheese and sugar prices, leading to a 0.9% rise in the global food index in February."
The Grain Price Index increased by 1.1% in February compared to January. This rise was influenced by the frost risk in Europe and the United States and logistical disruptions in the Black Sea region, which pushed global wheat prices higher.
Rice prices showed a limited increase of 0.4% due to continued demand for basmati and Japonica varieties.
VEGETABLE OIL PRICES NEAR PEAK
The Vegetable Oil Price Index rose by 3.3% in February, reaching its highest level since June 2022. The seasonal decline in production in Southeast Asia and the increase in global demand pushed palm oil prices higher, while expectations regarding biofuel policies in the United States led to an increase in soybean oil prices.
MEAT PRICES INCREASED, DAIRY PRODUCTS DECLINED
The Meat Price Index increased by 0.8% in February. The particularly high prices of lamb reaching an all-time high and strong demand from China and the United States for beef contributed to this rise.
The Dairy Products Price Index declined by 1.2% due to the decrease in cheese prices in the European Union. However, despite the supply contraction in major exporting countries, strong demand caused prices of skim milk powder, whole milk powder, and butter to rise.
SUGAR PRICES AT THEIR LOWEST IN RECENT YEARS
The Sugar Price Index fell by 4.1% in February, reaching its lowest level since October 2020. This decline was particularly influenced by the expected record production in the United States, which strengthened expectations of an increase in global supply.
According to the Grain Supply and Demand Summary Report published by FAO, the global grain production forecast for 2025 was raised to 3 billion 29 million tons due to upward revisions in corn and rice production. This amount represents a 5.6% increase compared to the previous year.
The report predicts that global grain stocks are expected to increase by the end of the 2026 season, while the stock-to-use ratio is expected to remain at 31.9%, indicating a safe range.