FAO: Food Prices Decline for 2nd Month in October

The Food and Agriculture Organization of the United Nations (FAO) announced that global food prices decreased for the second consecutive month in October, driven by abundant global supplies.

The FAO Food Price Index averaged 126.4 points in October, down from a revised 128.5 points in September. The index is slightly below the October 2024 level and 21.1% below its peak in March 2022.

The FAO forecasts global cereal production in 2025 to reach 2.99 billion metric tons.