The FAO Food Price Index fell 0.8% to 127.7 points in May 2025 from an upwardly revised 128.7 in April which was the highest since February 2023. Prices of cereals fell 1.8% to hit the lowest level since September 2020, amid falls in maize, pressured by firm competition and increasing seasonal availability from ongoing harvests in Argentina and Brazil. Also, prices of sorghum and barley dropped and wheat prices declined as well. Prices for vegetable oils were down 3.7%, reflecting lower quotations for palm, rapeseed, soy and sunflower oils. Sugar prices declined 2.6% amid concerns over the uncertain global economic outlook and its potential impact on demand from the beverage and food processing industries. On the other hand, meat cost increased 1.3% driven by higher international prices for bovine, ovine and pig meats. Also, dairy prices edged up 0.8% as international butter prices remained at historically high levels, sustained by strong demand from Asia and the Middle East.