The Food and Agriculture Organization of the United Nations (FAO) Food Price Index (FPI) stood at 133,3 points in August 2026, up 1,9% from the revised July figure and 2,5% from the same period last year, according to a statement released by the organization on September 4.

The grain price index rose 2,2% compared to July, with all major grains rising amid robust import demand and concerns about harvest prospects. Global wheat prices rose 2,6% in August, 15% above last year's levels, amid disruptions to export logistics through the Black Sea, worsening harvest forecasts in Europe due to hot and dry weather, and a weakening US dollar. Corn prices rose 2,5%, and rice prices rose 0,5%.

The vegetable oil price index increased by 1,1%, meat by 1,0%, and dairy by 2,3%. The sugar price index saw the largest increase, jumping 11,9% amid expectations of a reduced sugar beet harvest in the European Union, concerns about production in Asia due to El Niño, production cuts in Brazil, and India's announcement of duty-free imports of raw sugar.

According to the FAO, unfavourable weather conditions, conflict in the Middle East and logistical problems in trade in the Black Sea region led to higher food prices.

"The August rise in global food prices signals the return of heightened risks to markets: climate shocks, geopolitical tensions and trade disruptions are all adding to supply uncertainty, making resilience, open trade and uninterrupted resource supplies key to global food price stability," said FAO Chief Economist Maximo Torero.

The organization also lowered its forecast for global cereal production in 2026 to 2980 million tonnes, down 2% from 2025, although this would still be the second-largest harvest on record.