Global Food Prices Edge Down... Meat Up, Sugar and Grains Down

FAO Index for September at 128.8 Points
Down 0.9 Points from Previous Month

Last month, global food prices saw a slight decline. While meat prices increased, prices for sugar and grains fell.

According to the Ministry of Agriculture, Food and Rural Affairs, the Food and Agriculture Organization (FAO) World Food Price Index for September 2025 recorded 128.8 points, a slight decrease from the previous month’s 129.7 points. By category, prices for grains, dairy products, sugar, and vegetable oils declined, while meat prices rose.

The grain price index for September stood at 105.0 points, down 0.6% from 105.6 points in the previous month. International wheat prices fell for the third consecutive month due to weak global demand and abundant harvests in major producing regions such as Russia, Europe, and North America. Corn prices also declined, driven by expectations of ample supply from Brazil and the United States, as well as the temporary suspension of export taxes in Argentina. In contrast, barley and sorghum prices increased, with barley rising for the third straight month. Rice prices, mainly for the Indica variety, fell by 0.5%, influenced by weakening demand from importing countries such as the Philippines and African nations, as well as abundant export volumes.

Last month, the vegetable oil price index was 167.9 points, a 0.7% decrease from 169.1 points in the previous month. Declines in palm oil and soybean oil prices pulled the index down, while sunflower oil and rapeseed oil maintained an upward trend due to supply constraints. Palm oil prices weakened as Malaysian inventories exceeded expectations, and soybean oil prices fell as the temporary suspension of Argentina’s export tax increased supply. On the other hand, sunflower oil prices rose due to supply disruptions in the Black Sea region, and rapeseed oil prices increased due to production constraints in Europe.

The meat price index reached 127.8 points, up 0.6% from 127.0 points in the previous month. The main factors were increases in beef and lamb prices, driven by strong demand and supply shortages in the United States and limited export volumes from Oceania. Pork and poultry prices remained generally stable. Despite a decrease in China’s pork imports, demand for Brazilian products increased, helping to maintain stability. Poultry prices showed strength within a balanced market flow, despite outbreaks of highly pathogenic avian influenza.

The dairy price index for September was 148.3 points, a 2.6% decrease from 152.3 points in the previous month. All dairy-related product prices fell, with butter dropping by 7%, skim milk powder by 4.3%, whole milk powder by 3.1%, and cheese experiencing a slight decline. Major factors included a seasonal decrease in demand in the Northern Hemisphere, expectations for increased spring production in New Zealand, and sluggish purchasing by major importing countries. However, butter prices remained higher than the average for the previous year.

The sugar price index was 99.4 points, down 4.1% from 103.6 points in the previous month. International sugar prices fell due to unexpectedly high sugar production, resulting from large-scale crushing and an increased share of sugar in major growing regions in southern Brazil. In addition, favorable harvest prospects due to abundant monsoon rains and expanded cultivation areas in India and Thailand further pressured prices downward.

An official from the Ministry of Agriculture, Food and Rural Affairs stated, "Although the domestic agri-food price index remains stable, the government has announced various measures to ensure a stable supply of domestic agricultural and livestock products, including expanding the supply of key products, providing discounts, and strengthening emergency supply management systems." The official added, "We also plan to implement proactive measures to ensure a stable supply of agricultural and livestock products and ease consumer burdens during the kimchi-making season."