The FAO Food Price Index, which measures changes in a basket of globally traded food commodities, rose for a third consecutive month in April to average 130.7 points, the UN agency said, up 1.6% from its revised March level and the highest since February 2023.
The index hit a peak of 160.2 in March 2022 after the start of the Ukraine war.
The FAO's April vegetable oil price index rose 5.9% month-on-month to its highest since July 2022 as a result of increased soy, sunflower, rapeseed oil and palm oil prices, the latter, notably, underpinned by biofuels policy incentives.
By contrast, April cereal prices rose just 0.8% from March and were up 0.4% from a year ago, reflecting modestly higher prices for the likes of wheat and maize linked to weather concerns, rising fertiliser costs and increased biofuels demand.
There are expectations for reduced 2026 wheat plantings, the UN agency said, as farmers shift to less fertiliser-intensive crops given prices for the inputs have surged.
Elsewhere, April meat prices rose 1.2% month-on-month to a record high amid limited slaughter-ready cattle in Brazil, the FAO said, while sugar dropped 4.7% thanks to forecasts for ample supply in Brazil, China and Thailand.
