"FAO": Global food prices drop in September despite annual increase

The Food and Agriculture Organization of the United Nations (FAO) announced on Friday that global food commodity prices fell during the month of September, recording a monthly decline primarily driven by lower prices for sugar and dairy products.

According to the organization's statement, the FAO Food Price Index averaged 128.8 points last month, compared to 129.7 points in August.

Despite the monthly decline, the data indicated that the index recorded "an increase of 3.4% compared to the same month last year."

In a separate context, the international organization expressed a more optimistic outlook for global grain production. The FAO "raised its forecast for global grain production in 2025 to 2.971 billion tons," expecting "an increase of 3.8% from last year."

The report clarified that this upward adjustment in forecasts, which represents "the largest annual increase since 2013," is driven by increased production of wheat, corn, and rice.