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Food Outlook – Biannual report on global food markets

Copyright licence

Year of publication 2025

Place of publication Rome, Italy ;

Pages 88 p.

Author FAO

Publisher FAO ;

Category Technical study

ISBN 978-92-5-140262-7

Series title Food Outlook

Series number November 2025

To cite or share https://doi.org/10.4060/cd7448en

Synopsis (short abstract) Agricultural markets remain highly sensitive to a variety of external shocks, including weather fluctuations and policy developments, and merit regular monitoring. According to the latest FAO assessments, global food commodity production has broadly increased, supported by strong consumption growth and a recovery in inventories. However, the trade outlook continues to be clouded by an evolving global trade environment and persistent policy uncertainties. Beyond the core market assessments for major food commodities, each edition includes special feature articles and key market indicators. The November 2025 edition provides an update on the fertilizer market and recent developments in olive oil markets. The overview of market indicators summarizes trends in futures markets, ocean freight rates, the global food import bill, and food price indices.

Markets at a Glance

  • Cereals
    • This report provides an analysis of the most recent developments in the global cereals market, including a short-term outlook. Read it here
  • Wheat
    • This report provides an analysis of the most recent developments in the global wheat market, including a short-term outlook. Read it here
  • Coarse Grains
    • This report provides an analysis of the most recent developments in the global coarse grains market, including a short-term outlook. Read it here
  • Rice
    • This report provides an analysis of the most recent developments in the global rice market, including a short-term outlook. Read it here
  • Oilcrops, oils and meals
    • This report provides an analysis of the most recent developments in the global oilcrops market, including a short-term outlook. Read it here
  • Sugar
    • This report provides an analysis of the most recent developments in the global sugar market, including a short-term outlook. Read it here
  • Meat and meat products
    • This report provides an analysis of the most recent developments in the global meat market, including a short-term outlook. Read it here
  • Milk and milk products
    • This report provides an analysis of the most recent developments in the global milk market, including a short-term outlook. Read it here
  • Fish and other acquatic products 
    • This report provides an analysis of the most recent developments in the global fish market, including a short-term outlook. Read it here

Special feature

Fertilizer market developments

Fertilizer production rebounded in 2024 and 2025, led by nitrogen and potassium, while prices rose on high energy costs but remain below 2022 peaks. Global trade has stabilized, and short-term supply looks adequate, though policy risks and affordability will shape future trends.Read it here


Focus on olive oil

International olive oil prices declined significantly from their early 2024 peak following strong supply recovery in the 2024/25 season. As for 2025/26, tentative forecasts point to year-on-year stable olive oil production, while global consumption and trade are expected to keep expanding. Nevertheless, the sector still faces numerous challenges. Read it here


Cite this content as:

FAO. 2025. Food Outlook – Biannual report on global food markets. Food Outlook, November 2025. Rome.

https://doi.org/10.4060/cd7448en

Language English

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