Business news · Commodities · 02 Oct 2026
The UN Food and Agriculture Organization's index of world food commodity prices averaged 136.0 points in September, up 1.5% from a revised 134.0 in August and the highest reading since November 2022. Sugar prices rose 6.1% to an 18-month high on poor weather in major growing regions and fears of a strong El Nino. Cereals rose 5.1% on lower US corn yields and disrupted Black Sea grain trade. Vegetable oils rose 0.9%, led by palm oil, while meat fell 1.1%. FAO's chief economist tied the rise to disruption in the Strait of Hormuz and the Black Sea combined with climate shocks.
These are world prices, so the exposure in India runs through imported inputs and export parity. Edible oil refiners and packaged-food makers buy palm and other vegetable oils largely from abroad, and biscuit, noodle and bakery makers are exposed to wheat. Higher world sugar prices change the economics of sugar exports for listed mills. The move in vegetable oils was under 1% for the month, so for most food companies the direct cost effect is small; the larger swing was in sugar and cereals. India recently scrapped the duty on crude sunflower oil, which offsets part of the edible oil cost for refiners.
Reported by Global Banking & Finance Review ↗ on 02 Oct 2026.
NSE stocks, from the last close on or before 02 Oct 2026 to the close on 16 Oct 2026.
| Sector | Stocks | Median move | Up | vs all stocks |
|---|---|---|---|---|
| Fast Moving Consumer Goods | 47 | +2.2% | 40 of 47 | +2.5 pts |
| All tracked stocks | 804 | -0.3% | 383 of 804 | — |
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