The FAO Food Price Index was generally higher in September

Cheese sold in the São Paulo market in Brazil

The FAO Food Price Index is a measure of the monthly change in the international prices of a basket of food commodities. In September 2024, the FAO Food Price Index increased by 3 percent from the August value and by 2 percent compared to the same period in 2023.

The FAO Sugar Price Index recorded the highest increase in September, rising 10.4 percent month-on-month. The analysis pointed out that the driving factors behind it are the deterioration of the crop outlook in Brazil, while India's decision to lift restrictions on the use of sugarcane for ethanol production may affect its sugar export supply, causing market concerns.

The FAO Dairy Price Index rose by 3.8 percent month-on-month in September, with increases in quotations for whole milk powder, skim milk powder, butter and cheese.