Global food prices hit 2-year high on meat, oil surge FAO index rises as beef, chicken and veg oils climb8 August 2025 8 August 2025 2 minute read 2 minute read By: By: Global Ag Media EuropeWorld food commodity prices rose in July to their highest in over two years, as a jump for vegetable oils and record levels for meat outweighed falling cereal, dairy and sugar prices, Reuters reported, citing the United Nations' Food and Agriculture Organisation. The FAO Food Price Index, which serves as a global benchmark for food commodity prices, averaged 130.1 points in July, a 1.6% increase from June, FAO said. FAO's meat price index hit a new all-time high of 127.3 points, up 1.2% from its previous peak in June, as strong import demand from China and the United States boosted beef and sheep meat prices, the agency said. In contrast, pig meat prices declined due to sufficient supplies and lower demand, particularly in the European Union, FAO added. This increase was driven by higher quotations for palm, soy, and sunflower oils due to robust global demand and tightening supplies, though rapeseed oil prices fell as new-crop supplies arrived in Europe, FAO said.