Global Food Prices Continue Rising for Third Month

(MENAFN) World food commodity prices increased for a third straight month in April, largely influenced by higher vegetable oil costs alongside rising cereal and rice prices. These movements came as energy prices remained elevated, according to the United Nations Food and Agriculture Organization (FAO) on Friday.

"The benchmark of world food commodity prices rose in April for a third consecutive month amid elevated energy costs and disruptions caused by the conflict in the Near East," the agency said in a statement.

The FAO Food Price Index averaged 130.7 points in April, reflecting a 1.6% rise compared with the revised March figure and standing 2% above the level recorded a year earlier. Within this, the FAO Vegetable Oil Price Index climbed 5.9% month-on-month, reaching its highest point since July 2022. This surge was supported by stronger prices for palm, soy, sunflower, and rapeseed oils.

Chief Economist Maximo Torero of FAO noted that global agrifood systems have continued to demonstrate resilience despite ongoing disruptions associated with the Strait of Hormuz situation. He also explained that vegetable oil prices experienced sharper increases mainly due to higher crude oil costs and growing demand for biofuels.

The FAO Cereal Price Index also recorded an increase of 0.8% compared to the previous month, driven by higher wheat and maize prices. Meanwhile, the All Rice Price Index rose by 1.9%, as increasing crude oil and derivative costs pushed up production and distribution expenses in major rice-exporting countries.

In addition, the FAO Meat Price Index reached a new record level in April, increasing by 1.2% from March and rising 6.4% compared with the same period last year. This growth was primarily led by higher beef prices.

MENAFN09052026000045017167ID1111089538