Global food prices surged to an 18-month high in October, with the FAO Food Price Index rising 2%, Vegetable oils saw the largest price increase from January to October, rising 24% due to higher palm, soy, sunflower, and rapeseed oil costs. Dairy and meat prices rose, climbing 17% and 10%, respectively, driven by cheese, butter, and increased demand. Cereal prices, including wheat and rice, dropped 4.5%, while sugar prices declined nearly 5% year-on-year. Analysts attribute these decreases to supply-side factors such as weather and transportation challenges.
