NASHVILLE, TENN. (RFD-TV) — The FAO Food Price Index for November reveals global food prices are continuing a downward trend. The index fell by more than 1 percent last month, marking the third straight month of declines.
Dairy, meat, sugar, and vegetable oil indices all fell, with sugar seeing the most significant drop at nearly 6 percent.
The cereal index was the only one to gain, rising just shy of 2 percent.
The overall index remains 22 percent off the record highs we saw back in March 2022.
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In the U.S. and Canada, reduced planted acres—not yield losses—led to a decline in potato production, while Mexico saw modest gains due to increased yields and harvested areas.
Farm numbers still favor small operations, but production, resilience, and risk management are increasingly concentrated among fewer, larger farms.
China’s reliance on imported soybeans remains entrenched, shaping global demand and trade leverage.
Tight cattle supplies favor poultry and pork while keeping beef margins under pressure.
Strong corn exports offer support, while soybeans and wheat remain weighed down by ample global supplies, according to the USDA’s latest WASDE report for February.
