Global food prices hit highest level since 2022
The FAO Food Price Index rose 1.5% month on month to 136 in September, its highest level since November 2022. Wheat, corn and sugar prices climbed sharply, while OI Charts data showed short build-up in the tracked FMCG stock.
after close1 source ↓machine-written, see hownot a recommendation
- ITC close
- ₹260.80
- On the day
- -1.02%
- Futures OI, short build-up
- +1.1%
- Put-call ratio
- 0.63
- Max pain
- ₹260.00
Global food prices climbed to their highest level in nearly four years in September as the war in Iran and extreme weather disrupted agricultural production and supply chains. The UN Food and Agriculture Organization’s Food Price Index reached 136, up 1.5% month on month and 5.8% from a year earlier. The reading was the highest since November 2022. 🌾
The pressure was concentrated in key food inputs. The cereal price index rose 5.1% from August, while international wheat prices increased 6.3%, corn gained 5.6% and sugar advanced 6.1%. Disruptions to energy and fertilizer shipments through the Strait of Hormuz, alongside weather-related production risks, could keep costs elevated for food manufacturers and retailers into next year. FAO index at 136 is therefore an important signal for the FMCG sector, where input inflation can affect gross margins or lead to higher shelf prices.
For the tracked FMCG stock, OI Charts data as of 19 Oct 2026 showed a close of ₹260.80, down 1.02% on the day, with volume of 11,528,925 shares. The stock was 1.1% higher over five sessions but down 0.6% over 20 sessions, and traded close to its 52-week low of ₹253.15 recorded on 8 Oct. Futures open interest rose 1.1% to 211,995,600 shares, indicating a short build-up as the futures premium stood at 0.38%. 📉
Options positioning pointed to ₹260 as the immediate reference level. Both the largest call and put open interest were at ₹260, while max pain was also ₹260. The put-call ratio stood at 0.63 for the 27 Oct 2026 expiry, which had eight days remaining in the OI Charts snapshot. This positioning suggests that ₹260 is the key near-term level to monitor, while the short build-up shows that derivatives traders were adding bearish exposure as the stock remained near its yearly low.
The next market signals are the FAO’s subsequent food-price readings, developments affecting fertilizer and energy shipments, and any evidence that higher wheat, corn and sugar costs are passing through to consumer prices. For FMCG companies, investors will also watch margin commentary, price increases and demand trends in upcoming business updates. 🛒
Source: Korea JoongAng Daily, 21 Oct 2026
Not investment advice. For informational purposes only.