# Global food prices dip in October amid declines in dairy and sluggish palm oil demand

> The FAO Food Price Index averaged 163.5 points in October, down 0.9% from September and 7.4% lower year on year. The vegetable oil index fell 1.5% to its lowest since April 2009, on weak palm oil import demand and large exporter stocks. Dairy and meat prices fell, while the cereal index rose 1.3% on firmer US maize.

- Date: 2018-11-02 · published 2018-11-02T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/6993-global-food-prices-dip-in-october-amid-declines-in-dairy-and-sluggish-palm-oil
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weak global demand and large stocks keep vegetable oil prices under pressure, including palm and soy oil. Firmer US maize quotations point to modest support for feed grain prices.

## Read by commodity

- SBO: neutral
- CORN: bullish ▲
- MILK: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-03-02 | [Global food prices decline further in January](https://feedsoft.ai/events/12653-global-food-prices-decline-further-in-january.md) | -0.0% | -5.3% |
| PALMOIL | 2022-05-08 | [Global food commodity prices decline in July](https://feedsoft.ai/events/41443-global-food-commodity-prices-decline-in-july.md) | -0.6% | +0.9% |
| PALMOIL | 2018-04-14 | [Global Palm Oil Prices To Plummet Due To Over-Supply - Brand Spur](https://feedsoft.ai/events/65608-global-palm-oil-prices-to-plummet-due-to-over-supply-brand-spur.md) | +0.0% | -3.7% |
| PALMOIL | 2018-10-03 | [Long-term demand to offset weaker prices for palm oil, says Moody's \| The Star](https://feedsoft.ai/events/7619-long-term-demand-to-offset-weaker-prices-for-palm-oil-says-moody-s-the-star.md) | +1.6% | +1.4% |
| PALMOIL | 2017-04-05 | [FAO Food Price Index dips again in April, led by sugar and vegetable oils](https://feedsoft.ai/events/6872-fao-food-price-index-dips-again-in-april-led-by-sugar-and-vegetable-oils.md) | -0.3% | -1.6% |
| SBO | 2017-06-26 | [In 2017 global palm oil production will rise by 7 million tonnes.](https://feedsoft.ai/events/70589-in-2017-global-palm-oil-production-will-rise-by-7-million-tonnes.md) | +4.2% | +6.3% |
| SBO | 2026-03-01 | [Palm oil prices likely to hover around current prices in March, says industry council](https://feedsoft.ai/events/20689-palm-oil-prices-likely-to-hover-around-current-prices-in-march-says-industry.md) | +4.6% | -1.4% |
| SBO | 2019-09-03 | [SUBSCRIBER NOTE: Platts launches FOB Argentina soybean oil, meal price assessments \| S&P Global](https://feedsoft.ai/events/57157-subscriber-note-platts-launches-fob-argentina-soybean-oil-meal-price.md) | -1.3% | +1.2% |

## Sources

- foodingredientsfirst.com: https://www.foodingredientsfirst.com/news/fao-food-price-index-dips-in-october-declines-in-dairy-and-sluggish-palm-oil-demand.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.