The Food and Agriculture Organization’s (FAO) global price index increased slightly in April, marking a second consecutive monthly rise. Higher meat prices led the upturn, offsetting declines in sugar and dairy. Despite this, the index remains below last year’s level. Meat prices surged 1.6%, driven by poultry, beef, and sheep meat. Cereal prices saw a modest increase due to maize export prices, while vegetable oil prices reached a 13-month high. Conversely, sugar prices dropped sharply, while dairy prices decreased after six months of gains. The FAO revised upward its estimate for 2023/24 global cereal production but lowered the forecast for 2024 wheat output, primarily due to decreased wheat planting in the European Union.