The UN Food and Agriculture Organization reported on August 7 that its global food commodity price index edged higher in July, driven by rising cereal, vegetable oil and sugar prices that outweighed declines in meat and dairy; Bloomberg separately reported global food prices rose to a three-year high
The global food price benchmark averaged 130.3 points in June 2026, down 0.3% from May; wheat drove the drop while vegetable oils rose 3.8% and sugar and dairy also fell
The world's most produced grain by volume, grown on every inhabited continent; US and Brazilian output, Chinese demand, and US ethanol policy jointly set the global price.
The world's most widely traded grain, a daily staple for roughly 2.5 billion people; global prices hinge on Russian exports, US Great Plains weather, and Indian food policy.
The FAO food index held near a three-year high in May; underneath, weather, fuel and fertilizer costs pushed all major grains higher