The final FAO food price index (FFPI) for 2025 oversaw the third consecutive monthly decrease of international prices but overtook 2024’s.
According to the January 9, 2026 report, the December 2025 FFPI scored 124.3 points, 0.6% down monthly but 4.3% up yearly.
The overall 2025 index averaged 127.2 points, versus 122 points in 2024 but was far below that of 2022.
Monthly, the December index was 3 points above December 2024’s but 35.9 points below the March 2022 high.
Sugar Reverses Fortunes
One of the reasons for the slim gain of the annual index was the surprise comeback of long-term monthly losers like sugar.
After three back-to-back declines, world sugar prices upped 2.1 points month-on-month, to 90.7 points.
The price average for the sweetener was still 24% below that of December 2024 but its current recovery suggests recent production changes.
Sugar milling in the strategic sugarcane belt of south-central Brazil dropped somewhat in end 2025, favoring price strength. However, promising forecasts in top producers, India and Thailand, could check further price advances.
As an annual commodity, sugar performed poorly in 2025 with an average 104.3 points, a 17% drop from 2024.
Cereals meanwhile were the only category to have gained in the final two months of the year, by improving from November by 1.7%. Despite these consecutive monthly advances, however, the yearly cereal index was still 4.9% down.
Insecurity concerns over the Black Sea lately put pressure on wheat prices, which in turn boosted the entire grain index.
Rice rates also strengthened from uptick demand and relatively modest harvests but on a yearly basis they lowered by 35.2%.
All other categories of the FFPI fell monthly in December, inclusive of vegetable oils (down 0.2%), meat (1.3%) and dairy (4.4%).
The first FPPI for 2026 tracking international food prices based on weighted market quotes will be on February 6. In anticipation of that time, below is a review of how the 2025 index unfolded in full.
2025 International Food Prices Statistics
2025 espoused strong grain output that cut prices on the one hand and a trade war that elevated export-oriented foods on the other hand. The FAO Food Price Index (FFPI) was lowest in December 2025 at 124.3 points and highest in August at 129.5 points. The below table references the FAO for a monthly FPPI perspective:
| Month | FFPI [value points] |
| Jan’25 | 124.7 |
| Feb’25 | 126.6 |
| March’25 | 127.2 |
| April’25 | 128.2 |
| May ‘25 | 127.1 |
| June ‘25 | 128.1 |
| July ‘25 | 129.8 |
| August ‘25 | 129.8 |
| September ‘25 | 128.5 |
| October’25 | 126.4 |
| Nov’25 | 125.1 |
| Dec’25 | 124.3 |
2022 remains one of the most expensive years for food prices because this was when the world was recovering from the COVID crisis. The below FAO table compares 2022’s monthly prices with 2025’s:
| Month | FFPI [2025] | FFPI [2022] |
| Jan’25 | 124.7 | 135.7 |
| Feb’25 | 126.6 | 141.7 |
| March’25 | 127.2 | 160.2 |
| April’25 | 128.2 | 158.8 |
| May ‘25 | 127.1 | 158.7 |
| June ‘25 | 128.1 | 155.7 |
| July ‘25 | 129.8 | 141.6 |
| August ‘25 | 129.8 | 138.7 |
| September ‘25 | 128.5 | 137.3 |
| October’25 | 126.4 | 136.7 |
| Nov’25 | 125.1 | 136.0 |
| Dec’25 | 124.3 | 133.1 |