Global food prices increased in April 2025, primarily due to rising costs of cereals, meat, and dairy products. However, prices of sugar and vegetable oil saw a decline.
According to the Food and Agriculture Organization (FAO), the average global food price index in April stood at 128.3 points—1% higher than March’s 127.1 points. This marks a 7.6% increase compared to April 2024 but remains 19.9% lower than the peak reached after the Russia-Ukraine war began in 2022.
Wheat prices rose due to reduced exports from Russia, while rice prices increased because of higher demand. The United States is also stockpiling corn, contributing to the overall rise in the cereal price index.
FAO noted that currency fluctuations and tariff policy adjustments have added to market uncertainty, further impacting food prices.
Meanwhile, global crude oil prices continued to fall. The decline is attributed to easing trade tensions between China and the U.S., as well as anticipation surrounding the upcoming OPEC+ meeting.
On Friday (May 2), Brent crude dropped by 42 cents (0.7%) to $61.71 per barrel, and West Texas Intermediate fell by 46 cents (0.8%) to $58.78 per barrel.