Think rice is No. 1? Milk beats rice and pork as the world’s most valuable food commodity

From milk and rice to pork, beef and tomatoes, the world’s biggest food commodities represent a multi-trillion-dollar global industry. According to an analysis by Visual Capitalist based on data from the UN Food and Agriculture Organisation (FAO).

The top 10 food commodities generated a combined gross production value of approximately $2.5 trillion last year, highlighting the enormous scale and diversity of global agriculture. A new analysis reveals which everyday foods generated the highest production value in 2024—and the commodity that claimed the top spot.

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Milk claims the top spot

Milk ranked first with a gross production value of $379 billion in 2024. Global milk output reached 985 million metric tonnes, with cattle contributing 81% of total production. Buffalo milk also featured separately in the wider ranking, reflecting the importance of dairy production in Asia.

Rice followed closely at $362 billion, while pork secured third place with $355 billion. The narrow gap between the top three commodities highlights the enormous scale of global demand for staple foods and animal-based products.

Top 10 Food commodities by value

• Milk: $379 billion
• Rice: $362 billion
• Pork: $355 billion
• Beef: $306 billion
• Corn: $270 billion
• Chicken: $264 billion
• Wheat: $209 billion
• Eggs: $157 billion
• Soya beans: $142 billion
• Tomatoes: $136 billion

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Animal products dominate

Animal products occupied five of the top eight positions. Pork, beef and chicken alone generated a combined production value of approximately $925 billion. Eggs added another $157 billion, while milk remained the single most valuable commodity in the ranking.

The combined value of pork, beef, chicken, lamb and goat reached roughly $1.02 trillion. Visual Capitalist, citing FAO data, noted that global meat production rose to 374 million metric tonnes in 2024.

Tomatoes lead produce

Tomatoes were the only fruit or vegetable to enter the top 10, valued at $136 billion. Their ranking placed them above potatoes, apples and grapes. The ranking illustrates the scale and diversity of global agriculture, where staple grains, livestock, dairy products and widely consumed produce collectively drive an economy worth trillions of dollars.