Global Food Prices Drop Again Amid Surplus

Global food prices decreased for a second month in October due to adequate worldwide supply. The FAO Food Price Index dropped to 126.4 points from September's 128.5. Compared to October 2024, the index fell and is significantly lower than its March 2022 peak. 2025's cereal production forecast shows a new record.

In October, international food commodity prices experienced a decline for the second straight month, predominantly due to sufficient global supplies, according to the United Nations' Food and Agriculture Organization (FAO). The organization's Food Price Index, which monitors a basket of worldwide food commodities, fell to an average of 126.4 points, down from a revised 128.5 in September.

This dip places the index slightly lower than its position in October 2024, representing a decrease of 21.1% compared to its peak in March 2022. Additionally, a distinct FAO report projected that global cereal production in 2025 would reach an unprecedented 2.990 billion metric tons, surpassing last month's forecast of 2.971 billion tons.

The updated outlook indicates a 4.4% increase from the output level of 2024.

(With inputs from agencies.)