Global Food Prices Hit 21-Month High

September 21, 2026 · GıdaTarım

The FAO Food Price Index rose 1.9% in August, reaching its highest level since November 2022, driven by logistics costs and adverse weather conditions.

Peak Levels in Food Index

According to data from the Food and Agriculture Organization of the United Nations (FAO), the FAO Food Price Index recorded a 1.9% increase on a monthly basis in August, rising to 133.3 points. With this increase, international food prices reached their highest level since November 2022. Prices, which increased by 2.5% compared to the same period last year, continue to remain just below the historic peak reached in March 2022 at the start of the Russia-Ukraine War.

Pressure from Logistics and Fertilizer Costs

Global agricultural markets are under pressure due to disruptions in the logistics chain caused by uncertainties in Black Sea shipments and conflicts in the Middle East. The rerouting of voyages around the Cape of Good Hope due to security risks in the Red Sea and Bab-el-Mandeb Strait is directly increasing freight, fuel, and insurance costs. According to World Bank data, although fertilizer prices have retreated from their second-quarter peak, they remain high, and the institution forecasts that fertilizer prices will increase by an average of 31% through 2026.

Widespread Increases in Agricultural Commodities

Price increases were recorded across all product groups in August, including cereals, vegetable oils, meat, dairy, and sugar. Sugar prices jumped 11.9% month-on-month, reaching their highest level since June 2025, driven by drought expectations in the European Union, El Nino effects in Asia, harvest losses in Brazil, and India's duty-free import decision. In the same period, according to FAO data, cereal prices increased by 2.2%, dairy products by 2.3%, and meat prices by 1%.

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