Tashkent, Uzbekistan (UzDaily.com) — In July 2025, the average value of the FAO Food Price Index (FFPI) stood at 130.1 points, up 2.1 points (1.6%) from June.

Gains in meat and vegetable oil prices offset declines in cereals, dairy products, and sugar. The index was 9.2 points (7.6%) higher than in July 2024 but remained 30.1 points (18.8%) below the record level reached in March 2022.

Cereals

The FAO Cereal Price Index averaged 106.5 points in July, down 0.8 points (0.8%) from June and 4.2 points (3.8%) year-on-year. Global prices for barley and maize rose, while quotations for sorghum and wheat declined.

Ample seasonal supply in the Northern Hemisphere from winter wheat harvests pressured markets. However, less favorable weather conditions for spring wheat in parts of North America and limited farmer selling in Europe and the Black Sea region prevented a steeper fall in prices.

Maize prices rose due to low farmer selling activity, drought conditions in Eastern Europe and Ukraine, and reduced export shipments from Argentina and Brazil.

Meanwhile, prices for all rice varieties fell by 1.8% amid abundant export availability and subdued import demand.

Vegetable Oils

In July, the FAO Vegetable Oil Price Index reached a three-year high of 166.8 points, an increase of 11.1 points (7.1%) from June.

The rise was driven by higher prices for palm, soybean, and sunflower oils, with a slight decline in rapeseed oil prices.

Palm oil prices increased for the second consecutive month on strong global demand. Soybean oil prices were supported by expectations of robust demand from the biofuel sector in both Americas. Sunflower oil became more expensive due to seasonal declines in supplies from the Black Sea region. Rapeseed oil prices fell as new-crop output entered the European market.

Meat

The FAO Meat Price Index reached an all-time high of 127.3 points in July, up 1.5 points (1.2%) from June and 7.3 points (6%) year-on-year.

The strongest contributors were rising prices for beef and lamb, along with moderate increases for poultry meat. Beef prices hit record highs due to strong demand, including from China and the United States, amid limited export availability.

Lamb prices rose for the fourth month in a row due to reduced supplies from Oceania. Poultry prices increased following the resumption of Brazilian exports after restrictions linked to highly pathogenic avian influenza were lifted.

Pork prices fell mainly in the EU, reflecting oversupply and weaker global demand.

Dairy Products

The FAO Dairy Price Index averaged 155.3 points in July, down 0.2% from June but 21.5% higher year-on-year. This was the first decline since April 2024, driven by lower prices for butter and skimmed milk powder, while cheese quotations continued to rise.

Butter prices fell due to increased output in Oceania and stockpiling, while prices in the EU remained stable. Skimmed milk powder prices dropped amid high supply and subdued demand from China and other Asian markets. Cheese prices rose on strong demand in Asia and the Middle East, coupled with reduced exports from the EU.

Sugar

The FAO Sugar Price Index averaged 103.3 points in July, down 0.2 points (0.2%) from June, marking the fifth consecutive monthly decline. The index was 16.2 points (13.5%) lower than in July 2024.

Prices were pressured by expectations of higher global sugar output in the 2025–2026 season, particularly in India and Thailand, as well as favorable weather conditions in Brazil’s main producing regions. A slight uptick in global sugar demand failed to reverse the downward trend.