Meat prices rose by 1.2%, reaching an all-time high, further intensifying inflationary pressures in the global food market.
An alarm has been sounded for global food security, with the FAO Food Price Index rising by 1.6% in April 2026 to reach 130.7 points, marking a third consecutive monthly increase and its highest level since February 2023. This surge reflects fresh pressures on international food markets, driven primarily by disruptions linked to the war in Iran and its subsequent impact on energy and supply chains.
Surge in vegetable oils
The prices of vegetable oils recorded the largest increase, rising by 5.9% to reach their highest point since June 2022. This spike is attributed to price hikes in palm oil, soy oil, sunflower oil, and rapeseed oil, as disruptions in energy and transport markets continue to hamper production and distribution.
Grains on the rise
Prices for cereals increased by 0.8%, reaching their highest level since February 2025. This upward trend affected most staple grains, with the exception of sorghum and barley. The price of wheat also rose by 0.8% due to drought concerns in parts of the US, expectations of reduced rainfall in Australia, and forecasts for lower wheat crop yields in 2026, stemming from high fertilizer and energy costs associated with the turmoil surrounding the Strait of Hormuz.
Record meat prices – Decline in sugar and dairy
Meat prices increased by 1.2%, reaching a historic high, further fueling inflationary pressures across the global food market. Conversely, sugar saw a 4.7% decrease due to expectations of adequate global supply and improved production outlooks in countries such as China and Thailand. Dairy products declined by 1.1%, primarily due to lower prices for butter and cheese.
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