ROME — Global food commodity prices edged lower in June as declines in cereal, dairy and sugar prices outweighed increases in vegetable oils and meat, while international meat prices reached a record high, according to the United Nations Food and Agriculture Organization (FAO).

The FAO Food Price Index, which tracks monthly changes in international prices of a basket of globally traded food commodities, averaged 130.3 points in June, down 0.3% from May. Despite the monthly decline, the index remained 1.7% higher than a year earlier, although it was still well below its peak recorded in March 2022.

The Meat Price Index rose 0.4% from the previous month to a new all-time high, supported primarily by higher poultry prices amid strong global import demand and tighter export availability from Brazil. Sheep meat prices also increased, while pork and beef prices declined as ample supplies and softer demand weighed on markets.

Meanwhile, the Cereal Price Index fell 3.5% in June, reflecting improved harvest prospects and abundant export supplies, particularly for wheat and maize. The Sugar Price Index dropped 5.7%, extending its decline on expectations of higher production in key exporting countries, while the Dairy Price Index slipped 1.5% as improving milk supplies increased export availability. In contrast, the Vegetable Oil Price Index rose 3.8%, driven by stronger palm and rapeseed oil prices.

FAO said the mixed performance across commodity groups highlights diverging market conditions, with resilient demand supporting meat prices while improved production prospects and expanding supplies continued to ease price pressures in several other food categories.

Source: Patronlar Dünyası/ Prepared by: İlayda Gök