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Global Food Prices Rise in July Led by Cereals, Vegetable Oils and Sugar

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Global food prices increased notably in July, with cereals, vegetable oils, and sugar among the key drivers of the rise. Wheat and maize prices climbed due to adverse weather conditions and growing market concerns. Vegetable oil prices reached their highest levels since June 2022, supported by strong demand. Sugar prices recovered, influenced by weather disruptions and expectations over ethanol production. In contrast, meat and dairy prices declined during the same period.

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