A. M. 
In october 2024, the FAO food price index reached 127.4 points, up 2 % from september and the highest since april 2023, driven mainly by vegetable oils, which rose 7.3 %. Although the index is 5.5 % above the october 2023 level, it is still 20.5 % below the march 2022 peak.
The grain price index rose 0.8 % in october to 114.4 points, although it remains 8.3 % below its october 2023 value. Wheat and corn prices increased, driven by factors such as adverse weather conditions in the northern hemisphere and domestic demand in Brazil, while rice prices decreased due to the removal of export restrictions in India.
The vegetable oils price index rose 7.3% to 152.7 points, the highest level in two years, driven by increases in palm, soybean, sunflower and rapeseed oil prices, affected by concerns about global production and supply.
The dairy price index increased by 1.9% in october to 139.1 points, driven mainly by cheese and butter due to limited availability and domestic demand in the EU. In contrast, milk powder prices decreased due to seasonally higher production in Oceania.
The meat price index decreased slightly by 0.3 % to 120.4 points. Pork and poultry showed declines due to increased supply and lower demand. Beef, however, experienced a moderate increase due to strong import demand.
The sugar price index rose 2.6% to 129.6 points, driven by production concerns in Brazil and increased use of cane for ethanol, although the appreciation of the dollar and rains in Brazil slowed its rise.
