The global food price index rose 0.9% in February 2026 after a five-month streak of declines.
According to a report from the FAO, the world food price index averaged 125.3 points in February 2026, up 0.9% from the previous month, driven by gains in cereals, meat, and vegetable oils.
The Food and Agriculture Organization of the United Nations (FAO) World Food Price Index (FFPI) averaged 125.3 points in February 2026. This represents an increase of 1.1 points (0.9%) compared to January 2026, marking the first increase after five consecutive months of decline. However, compared to the same period in 2025, the index remains 1% lower and is down 21.8% from its historical peak set in March 2022.
Grains and vegetable oils are driving growth.
The world grain price index averaged 108.6 points, up 1.1% compared to January 2026. International wheat prices recorded a 1.8% increase due to the negative impact of severe cold weather in Europe and the United States. In addition, risks of transport disruptions in the Russian Federation and geopolitical tensions in the Black Sea region directly contributed to the price increase.
Most notably, the vegetable oil group saw its average index reach 174.2 points, a sharp increase of 3.3% compared to the previous month. This is the highest level for this group since June 2022. Palm oil prices rose for the third consecutive month due to declining production in Southeast Asia, while soybean oil prices were supported by biofuel policies in the United States.
Meat market hits new high, milk and sugar prices cool down.
The meat price index for February 2026 reached 126.2 points, up 0.8% from the previous month and 8% higher than the same period last year. Notably, lamb prices climbed to a record high due to limited export supplies from Oceania. Beef prices also maintained their upward trend thanks to strong import demand from two major markets: China and the United States.
Contrary to the general trend, milk and sugar prices recorded significant decreases over the past month:
- Milk prices:The average score was 119.3 points, down 1.2% from January. This was mainly due to a sharp drop in cheese prices in the European Union because of abundant supply and intense international competition.
- Sugar prices:The index fell 4.1% to 86.2 points, its lowest level since October 2020, reflecting expectations of abundant global supply, particularly forecasts of record production in the United States.
Overall, despite a slight recovery in the overall index, the global food market remains under pressure from weather conditions and geopolitical instability in key production regions.