FAO reports April food prices rise 1%, driven by cereals, meat, dairy

Global food prices rose in April, with the FAO Food Price Index averaging 128.3 points—up 1% from March and 7.6% from a year ago—driven by higher costs for major cereals, meat, and dairy products. Cereal prices increased due to tighter exportable wheat supplies in Russia and greater demand for fragrant rice varieties, while maize prices climbed amid lower U.S. stock levels. Meat prices, particularly for pig and bovine meat, also rose, in part due to steady global demand and limited export availability, especially from Australia and Brazil. Dairy prices surged, with butter hitting a record high due to declining inventories in Europe. In contrast, the vegetable oil price index fell by 2.3% as palm oil output rose in Southeast Asia, though soy and rapeseed oil prices increased on strong import demand. Sugar prices dropped by 3.5%, reflecting concerns over global economic uncertainty and its impact on demand from the beverage and food processing sectors.