World food commodity prices moved higher in September, rising to near a four-year high.
The United Nations Food and Agriculture Organization said Friday its food price index averaged 136 points in September, up 1.5% from August. The index was also up 5.8% on the year and reached the highest since November 2022. The food price index hit its all-time high of 159.3 points in March 2022, following the Russian invasion of Ukraine.
Sharp increases in cereal prices and additional strength in vegetable oils pushed the food price index higher in September, as transportation disruptions, weather concerns, and tightening supplies all supported global markets.
The cereal price index posted the largest contribution to the increase, rising 5.1% from August to 122.8 points. The index was also 17.2% above September 2025.
World wheat prices climbed 6.3% on the month to their highest level since August 2023. FAO attributed the increase largely to logistical constraints in the Black Sea region, which encouraged importers to seek alternative supplies. Dry conditions in parts of North America ahead of winter wheat planting also supported prices.
Global corn prices increased 5.6% to their highest level in more than three years. Lower-than-expected U.S. yields and reduced Brazilian export availability tightened the supply outlook, while Black Sea disruptions further limited export supplies. Uncertainty surrounding shipping through the Strait of Hormuz also kept fuel, fertilizer, and freight concerns elevated.
The FAO Vegetable Oil Price Index averaged 198.6 points, up 0.9% from August and 18.3% from a year earlier.
Palm oil prices rose for a fourth consecutive month on strong global import demand and concerns that dry weather could hurt Southeast Asian production. Sunflower oil declined for a third month amid expectations for ample Black Sea supplies, although transportation disruptions limited the decline. Soy and rapeseed oil prices were broadly steady, with soy oil supported by robust biofuel demand.
Meanwhile, the meat price index fell 1.1% as hog and poultry prices declined, while the dairy index slipped 0.1% amid weaker cheese prices.
The sugar index rose 6.1% as concerns about tighter 2026-27 supplies increased amid production and weather risks in Thailand, India, Brazil, and the European Union.
