Home Business Global food prices fall in January for the 10th month

Global food prices fall in January for the 10th month

The Food and Agriculture Organization of the United Nations (FAO) world price index fell in January for the tenth consecutive month and is now in down about 18% from the highest level recorded in March following the Russian invasion of Ukraine.

The organization said its price index, which measures the world’s most traded food commodities, registered a media by 131.2 points last month, compared to 132.2 points in December. This is the lowest reading since September 2021.

The December figure has been revised downwards from the previous estimate of 132.4 points.

FAO said falling prices for vegetable oils, dairy products and sugar helped push the index down, while grain and meat prices remained broadly stable.

Friday, in Separate estimates of grain supply and demand, FAO has raised its forecast for world grain production in 2022 to 2.765 billion tonnes from a previous estimate of 2.756 billion tonnes.

Read More About: Business News


Exit mobile version