Global food prices dip in May on lower grain and oil costs Meat prices edge up as beef hits record high, poultry slips6 June 2025 6 June 2025 2 minute read 2 minute read By: By: Global Ag Media EuropeGlobal food commodity prices declined in May, driven by marked drops in cereal, sugar, and vegetable oil prices, Reuters reported, citing the United Nations' Food and Agriculture Organization on Friday. The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 127.7 points in May, reflecting a 0.8% decrease from the April figure. Vegetable oil prices declined 3.7% from April, with declines across all major oils. Rapeseed oil eased on improved European Union supply prospects, while sunflower oil declined amid weak global demand. Poultry prices declined, pressured by surplus supplies in Brazil following import restrictions linked to a bird flu outbreak.