Translation. Region: Russian Federation –
Source: United Nations – United Nations –
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December 5, 2025 Economic development
Global prices of staple foods continued to fall in November, with the exception of cereals, according to data released Friday by the UN Food and Agriculture Organization (FAO).
The FAO Food Price Index, which tracks monthly changes in international quotations for key food commodities, stood at 125.1 points in November, 1.2 percent below its October level. This marks the third consecutive month of decline. It is 2.1 percent below its November 2024 level and 21.9 percent below its peak in March 2022.
Cost of grains
The grain price index rose 1.3 percent. Despite favorable global supply forecasts and good harvests in Argentina and Australia, global wheat prices rose 2.5 percent. This was driven by China's interest in US supplies, ongoing military action in the Black Sea region, and expected reduced sowing in Russia. Corn prices rose due to robust demand for Brazilian supplies, while the rice price index declined amid weak imports of Indian and aromatic rice varieties.
The vegetable oil price index fell 2.6 percent compared to October. The decline in palm, rapeseed, and sunflower oil prices outpaced a moderate rise in soybean oil prices, supported by strong demand from the biofuels sector, particularly in Brazil.
Meat Price Index
The meat price index fell by 0.8 percent. Poultry prices declined due to abundant export supplies and increased competition, fueled by Brazil's efforts to regain market share following the lifting of trade restrictions related to bird flu. Pork prices also fell, primarily due to large inventories in the European Union and reduced demand in China following the imposition of import tariffs. Beef prices remained stable, while lamb prices increased.
Dairy products
The dairy price index fell by 3.1 percent, driven by falling prices for butter and whole milk powder. This trend reflects rising milk production and abundant export supplies in key producing regions.
The sugar price index fell 5.9 percent from October, driven by expectations of strong global supplies this season and strong production figures in Brazil, India and Thailand.
Forecast for the year-end
The FAO also released updated global cereal market forecasts for 2025. Thanks to larger-than-expected wheat harvests, particularly in Argentina, global cereal production will exceed three billion tonnes for the first time, increasing by 4.9 percent to reach 3.003 billion tonnes. Maize and rice production will also increase compared to last year, with the global rice harvest expected to increase by 1.6 percent, driven by increased production in Bangladesh, Brazil, China, India, and Indonesia.
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