Global Food Prices Rise Again; Oils and Meat Push Index Higher

Global food prices rose for a third straight month in April as higher costs for vegetable oils, meat and cereals outweighed declines in sugar and dairy prices, according to the latest Food and Agriculture Organization (FAO) Food Price Index.

The FAO Food Price Index averaged 130.7 points in April 2026, up 1.6 percent from March and 2 percent higher than a year earlier. However, the index remains 18.4 percent below the record high reached in March 2022 during the height of the global food-price shock triggered by the Russia-Ukraine war.

The latest increase was driven mainly by rising vegetable oil prices, which climbed 5.9 percent in April and reached their highest level since July 2022.Palm oil prices rose for a fifth consecutive month due to stronger demand from the biofuel sector and concerns about lower production in Southeast Asia. Soy and rapeseed oil prices also increased as demand for biofuel production strengthened in the United States and European Union.

Meat prices also continued climbing, with the FAO Meat Price Index reaching a new record high in April. Beef prices increased amid limited cattle supplies in Brazil and strong international demand, especially from China. Poultry and pork prices also moved upward due to supply and shipping pressures in several regions.

Cereal prices recorded a smaller increase of 0.8 percent. Wheat prices rose due to drought concerns in parts of the United States and fears of reduced rainfall in Australia. Higher fertilizer and energy costs also contributed to expectations that some farmers may reduce wheat planting. Maize prices increased as weather concerns affected production outlooks in Brazil and the United States. Rice prices rose by 1.9 percent as higher oil prices increased transportation and production costs in exporting countries.

For Belize, the report could have mixed implications. Rising cereal and vegetable oil prices may place upward pressure on the cost of imported food items, animal feed and some processed goods. Belize imports a significant quantity of wheat-based products, cooking oils and other food commodities that are directly influenced by international markets.

At the same time, falling global sugar prices could create additional pressure for Belize’s sugar industry, which has already been grappling with lower international prices and concerns about profitability. The FAO Sugar Price Index fell 4.7 percent in April and was more than 21 percent below its level a year ago. The decline was linked to expectations of larger global supplies, especially from Brazil, China and Thailand.

Dairy prices moved in the opposite direction from cereals and meat. The FAO Dairy Price Index declined by 1.1 percent in April due mainly to lower butter and cheese prices as milk supplies increased in Europe and Oceania.

The FAO index is widely watched by governments, economists and food producers because it tracks monthly changes in international prices for major food commodities traded globally. The basket includes cereals, vegetable oils, meat, dairy and sugar.