FAO Food Price Index Rises in February 2026
The Food and Agriculture Organization of the United Nations (FAO) reported that its Food Price Index (FPI) increased in February 2026 to 125.3 points, up 0.9 % from January, according to the monthly report posted on the organization’s website.
- This is the first rise after five consecutive months of decline.
- The monthly increase is mainly driven by higher prices for cereals, vegetable oils, and meat.
Cereals
- Overall cereal prices rose 1.1 % versus January.
- Wheat led the surge, climbing 1.8 % in February, pressured by climatic risks in Europe and the United States and logistical bottlenecks around the Black Sea.
- Secondary cereals (barley, corn, oats, etc.) also went up, though at a more moderate pace.
Vegetable Oils
- Vegetable‑oil prices jumped 3.3 %, reaching their highest level since June 2022.
- The surge is supported by strong global demand for palm oil and soybean oil.
Meat
- Meat prices increased 0.8 %, driven by higher beef and lamb prices.
- Lamb reached a record high because of limited supply from Oceania—the world’s main exporter—while global demand remained stable.
Dairy
- In contrast, dairy products fell 1.2 % from January and 19.2 % year‑on‑year.
- The decline is explained by a continued drop in cheese prices, especially in Europe, due to:
- ample milk availability,
- weaker external demand, and
- intensified international competition.
- However, skimmed milk powder and whole‑milk powder prices rose, buoyed by a rebound in demand and the seasonal slowdown of production in New Zealand.
Sugar
- Sugar posted the largest monthly drop, falling 4.1 % from its January level.
- The price hit its lowest point since October 2020, reflecting market expectations of a abundant global supply.
Source: FAO Monthly Food Price Index Report, February 2026.
