Translation. Region: Russian Federation –
Source: United Nations – United Nations –
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February 6, 2026 Economic development
The Global Food Price Index fell in January. The indicator has been declining for five consecutive months, according to data released Friday by the UN Food and Agriculture Organization (FAO). The decline was primarily due to lower prices for dairy products, sugar, and meat.
The average value is 0.4 percent lower than December's level and 0.6 percent lower than the same period a year ago. However, the dynamics across individual categories were mixed.
Grain prices
The FAO Grain Index rose by 0.2 percent, despite a slight decline in global wheat and maize prices. Ample wheat stocks offset weather risks for winter crops in Russia and the United States, while maize stocks offset the impact of unfavorable weather in Argentina and Brazil and increased ethanol demand in the United States. The rice price index increased by 1.8 percent.
Vegetable oil prices
The vegetable oil price index rose 2.1 percent. Global palm oil prices rose due to a seasonal decline in production in Southeast Asia and robust import demand, while soybean oil prices rose due to reduced export supplies from South America and expectations of strong demand for biofuels in the United States.
Sunflower oil prices also increased due to limited supply in the Black Sea region. Meanwhile, rapeseed oil prices fell due to significant imports into the European Union.
The cost of meat
The meat price index decreased by 0.4 percent. The decline was driven by low pork prices, driven by abundant global supply and weak demand. Poultry prices, on the other hand, increased, primarily due to higher prices in Brazil, where export demand remains strong.
Beef and lamb prices remained stable, with increased shipments from Brazil to China offsetting the rapid filling of the duty-free quota from the US.
Prices for dairy products
The dairy price index fell by five percent. Cheese and butter saw the biggest price declines, thanks to ample supply. Meanwhile, skim milk powder prices rose amid renewed demand from the Middle East, North Africa, and parts of Asia.
The cost of sugar
Sugar prices fell by one percent. The FAO attributes this to expectations of increased global supply this season, thanks to a recovery in production in India, favorable forecasts for Thailand, and positive trends in Brazil.
Grain production forecast
At the same time, the FAO published an updated forecast for global cereal production. The total volume is expected to reach 3.023 billion tonnes, a record high.
The upward revision of the forecast is due to larger-than-expected wheat harvests in Argentina, Canada, and the EU, as well as expanded corn plantings and higher yields in China and the US. Rice production is also expected to increase, primarily in India, Bangladesh, Brazil, China, and Indonesia.
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