Commodities · history

Food price history

How food-price indices (FAO) and commodity price levels for crude oil, natural gas, wheat, maize, rice and fertilizers (World Bank) have moved monthly over decades, with reference markers around major conflict periods. Machine-read from the official free FAO and World Bank data; source-reported and associative, not a causal attribution. Not investment advice.

Monthly data · through FAO 2026-05 · World Bank 2024-12 · latest available · how fresh is this?

Movement around events — not sole causationThese charts show how prices moved around major conflict periods. Many factors move food prices (weather, energy, currencies, demand); the reference markers are context, not a claim that any single event was the cause. Source-reported FAO index values, monthly and subject to revision. Not investment advice.

This page charts two free, official commodity datasets over decades, with reference markers around dated conflict events Warconomy already tracks. The FAO Food Price Index (and its five sub-indices, basis 2014-2016 = 100, 1990-01–2026-05) shows international food-price movement; the World Bank "Pink Sheet" adds nominal-US$ price levels for crude oil, natural gas, wheat, maize, rice, and fertilizers (1960-01–2024-12). Both are machine-read from official files — no API keys, no paid APIs, nothing invented. Indices and price levels are never mixed on one axis. It is source-reported and associative: prices move for many reasons, and nothing here attributes a move to a single event. Not real-time and not investment advice.

  • FAO: headline index + 5 sub-indices, monthly, 1990-01–2026-05 (basis 2014-2016 = 100).
  • World Bank: 19 commodity price levels (oil, gas, grains, fertilizer), nominal US$, 1960-01–2024-12.
  • Machine-read from official free files (no API key, no paid API); event markers are associative, never causal.
  • Machine-readable at /commodities/history/data.json.

Explore the price levels (interactive)

Pick a commodity group and a time range. Lines are monthly World Bank price levels in the same unit, so they compare honestly; dashed lines mark dated Warconomy events as reference points only.

Brent and WTI benchmark crude, monthly average, nominal US$.

BrentWTI
Range 16.52–120 $/bbl. Hover for monthly values. Source: World Bank World Bank Commodity Price Data (the Pink Sheet). Dashed lines mark reference events (associative, not causal).
Latest data checkMonthly data · through June 25, 2026
  • Food and Agriculture Organization of the United Nations (FAO)current through 2026-05 · last checked
  • World Bankcurrent through 2024-12 · last checked

Monthly official data, re-checked by hand. The live up-to-date status comes from npm run commodities:check-refresh; nothing here is live-market data.

Reference events on these charts

  • February 24, 2022Full-scale invasion begins. Shown as a reference marker — prices moved around this period for many reasons; this is not a claim the event was the sole cause.
  • December 1, 2023Onset of sustained Red Sea diversions. Shown as a reference marker — prices moved around this period for many reasons; this is not a claim the event was the sole cause.

How to read these charts

  • Two kinds of data, never mixed on one axis: FAO indices (unitless, basis 2014-2016=100) and World Bank price levels (nominal US$ per barrel / mmbtu / tonne).
  • Each chart states its unit, source, and as-of date; the text summary repeats the key numbers for screen readers.
  • Dashed lines are reference events — prices moved around those periods for many reasons; this is not a causal claim.

Food price indices (FAO)

Unitless index, basis 2014-2016 = 100. 1990-012026-05.

Food Price Index

The headline index — a trade-weighted average of the five food-commodity groups below.

Food Price Index · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 130.8 (2026-05); range 50.8 (2002-05)–160.2 (2022-03). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 130.8 (2026-05) · +2.9% year-on-year · range 50.8160.2.

Cereals

Wheat, maize, rice and other cereals.

Cereals · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 114.3 (2026-05); range 48.6 (2000-08)–173.5 (2022-05). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 114.3 (2026-05) · +4.9% year-on-year · range 48.6173.5.

Vegetable Oils

Palm, soy, sunflower and other vegetable oils.

Vegetable Oils · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 185 (2026-05); range 35.83 (2001-02)–251.8 (2022-03). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 185 (2026-05) · +21.6% year-on-year · range 35.83251.8.

Sugar

World sugar prices.

Sugar · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 95.1 (2026-05); range 31.8 (2000-03)–183.2 (2011-01). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 95.1 (2026-05) · -13.1% year-on-year · range 31.8183.2.

Meat

Bovine, poultry, pig and ovine meat.

Meat · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 130.5 (2026-05); range 52.3 (2002-12)–130.5 (2026-05). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 130.5 (2026-05) · +6.3% year-on-year · range 52.3130.5.

Dairy

Butter, cheese, and milk powders.

Dairy · index (2014-2016 = 100) · January 1, 1990May 1, 2026. Latest 119.2 (2026-05); range 36.8 (1990-08)–158.2 (2022-06). Source: Food and Agriculture Organization of the United Nations (FAO), as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Latest 119.2 (2026-05) · -22.4% year-on-year · range 36.8158.2.

Commodity price levels (World Bank)

Nominal US$, monthly, from the official World Bank “Pink Sheet” (1960-012024-12; workbook updated January 03, 2025). Units differ by commodity — read each chart’s label.

Energy

Crude oil — Brent ($/bbl)

Crude oil — Brent · $/bbl · January 1, 1960December 1, 2024. Latest 73.833 (2024-12); range 1.21 (1970-01)–133.873 (2008-07). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Crude oil — WTI ($/bbl)

Crude oil — WTI · $/bbl · January 1, 1982December 1, 2024. Latest 69.79 (2024-12); range 11.31 (1998-12)–133.9271 (2008-06). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Natural gas — US (Henry Hub) ($/mmbtu)

Natural gas — US (Henry Hub) · $/mmbtu · January 1, 1960December 1, 2024. Latest 3.0229 (2024-12); range 0.14 (1960-01)–13.5226 (2005-10). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Natural gas — Europe ($/mmbtu)

Natural gas — Europe · $/mmbtu · January 1, 1960December 1, 2024. Latest 13.8566 (2024-12); range 0.3841 (1964-01)–70.0436 (2022-08). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Grains

Wheat — US HRW ($/mt)

Wheat — US HRW · $/mt · January 1, 1960December 1, 2024. Latest 252.17 (2024-12); range 52.18 (1969-10)–522.29 (2022-05). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Maize (corn) ($/mt)

Maize (corn) · $/mt · January 1, 1960December 1, 2024. Latest 202.5976 (2024-12); range 38 (1960-11)–348.1667 (2022-04). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Rice — Thai 5% ($/mt)

Rice — Thai 5% · $/mt · January 1, 1960December 1, 2024. Latest 527 (2024-12); range 95.67 (1971-04)–907 (2008-04). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Fertilizer

Fertilizer — DAP ($/mt)

Fertilizer — DAP · $/mt · January 1, 1967December 1, 2024. Latest 568.33 (2024-12); range 54 (1970-01)–1075.75 (2008-07). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

Fertilizer — Urea ($/mt)

Fertilizer — Urea · $/mt · January 1, 1960December 1, 2024. Latest 352 (2024-12); range 16 (1971-01)–925 (2022-04). Source: World Bank, as of June 25, 2026. Dashed lines mark reference events (associative, not causal).

What this can and cannot tell you

  • Can: show how international food-commodity prices moved month to month, including around tracked conflict periods.
  • Cannot: prove a specific event caused a price move — prices respond to weather, energy, currencies, trade policy, and demand together.
  • Cannot: serve as real-time or investment data — values are monthly, source-reported, and revised by FAO.

Source & methodology

Data: FAO Food Price Index (Food and Agriculture Organization of the United Nations (FAO)), machine-read from the official CSV on June 25, 2026. See the commodity-prices methodology, the source registry, and the food-prices economic-impact page.

Download: /commodities/history/data.json · commodities dashboard · dataset.

Related briefings

Source-reviewed explainers (not live news) that put this page in context.

  • Ukrainian strikes on Russian refineries: fuel supply, exports and pricesStrikes on refining capacity hit refined fuel output and exports differently from crude production, with sanctions and shadow-fleet shipping shaping where Russian barrels go — a mechanism explainer, not a live damage assessment.
  • Iran and the Strait of Hormuz: oil prices and tanker riskThe Strait of Hormuz is the world's most important oil chokepoint; tension there works through a supply-risk premium, war-risk insurance and tanker routing — channels explained here without any claim of live ship tracking.
  • Red Sea disruption: shipping costs and commodity pricesDiversions away from the Red Sea and Suez add sea-miles, time and cost to container and tanker voyages. This explains the rerouting, insurance and freight channels, anchored on dated UNCTAD and IMF PortWatch assessments.
  • Russia–Ukraine war: food and fertilizer pricesRussia and Ukraine are major exporters of grains, oilseeds, fertilizer and the gas that fertilizer is made from. This explains the grain-export, fertilizer and energy-input channels, anchored on FAO and World Bank price history.
  • Why wars affect energy pricesWars move energy prices through supply risk, transport chokepoints, storage, insurance, sanctions and — above all — expectations. This evergreen explainer walks each channel and links to the underlying benchmark data.
  • Why wars affect food pricesWars reach the dinner table through grain exports, fertilizer, energy input costs and shipping disruption. This evergreen explainer walks each channel and links to FAO and World Bank price history.
  • Gas, LNG and war: power bills and fertilizer costsNatural gas links war-driven supply shocks to electricity prices and to fertilizer, which is made from gas. This explains the power-market and fertilizer-cost channels, anchored on World Bank gas price levels and EIA data.
  • Sudan's war: Red Sea security, food insecurity and regional tradeSudan's war intersects a major shipping corridor and a large-scale food-security emergency. This explains the trade-route, humanitarian and regional-spillover channels, pointing to UN and FAO/WFP situation reporting rather than asserting figures.
  • Why wars raise shipping insurance and transport costsWar-risk insurance, rerouting and longer voyages raise the cost of moving goods through or around conflict zones. This evergreen explainer walks the insurance, freight and rerouting channels and links to the maritime data behind them.

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