Commodities Buzz: FAO Food Price Index up 6.2% on year in January 2025

The FAO Food Price Index (FFPI) averaged 124.9 points in January 2025, down 2.1 points (1.6 percent) from its revised December level. Decreases in the price indices for sugar, vegetable oils and meat more than offset increases in those for dairy products and cereals. The overall index was 7.3 points (6.2 percent) higher than its corresponding level one year ago, however, it remained 35.3 points (22.0 percent) below the peak reached in March 2022.

The FAO Cereal Price Index averaged 111.7 points in January, up 0.3 points (0.3 percent) from December but still 8.2 points (6.9 percent) below its year-earlier level. Wheat export prices dropped very slightly in January, with little movements during the month.

The FAO Vegetable Oil Price Index averaged 153.0 points in January, down 9.1 points (5.6 percent) from the previous month, yet it remained 24.9 percent above its level a year ago. The decline was mainly driven by lower world palm and rapeseed oil prices, while soy and sunflower oil quotations remained stable.

The FAO Dairy Price Index stood at 142.9 points in January, up 3.3 points (2.4 percent) from December 2024 and as much as 24.3 points (20.4 percent) higher than its value a year ago.

The FAO Sugar Price Index averaged 111.2 points in January, down 8.1 points (6.8 percent) from December and as much as 25.2 points (18.5 percent) from its value a year ago, reaching its lowest level since October 2022, when it averaged 108.6 points.

Powered by Commodity Insights