The value of the index decreased by 28.6 points (17.9%) compared to the highest level reached in March 2022.
World food prices continue to decline for the tenth consecutive month – in January, the index was 131.2 points, which is 1.1 points or 0.8% lower than in December, reports the Food and Agriculture Organization of the United Nations ( FAO) on Friday, February 3.
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It is indicated that, taking into account the decrease in the previous month, the value of the index decreased by 28.6 points (17.9%) compared to the highest level reached in March 2022.
The decline in the index in January was due to lower prices for vegetable oils, dairy products and sugar amid stable prices for grain and meat.
Average value grain price index was 147.4 points, which was 0.1% higher than in December and 6.7 points (4.8%) more than in January 2022. Prices for rice and corn increased, while those for barley and wheat decreased.
“International wheat prices show a downward trend for the third month in a row: in January they fell by 2.5 percent due to increased supply in world markets, as production volumes in Australia and Russian Federation has been higher than the previous forecast,” said the company.FAO.
Vegetable oil price index reached 140.4 p., which is 4.2 p. (2.9%) lower than its values in December and almost 25% lower than last year. The drop in prices is the result of a reduction in world prices for palm, soybean, sunflower and rapeseed oils.
Dairy Price Index compared to December, it decreased by 2.0 points (1.4%) to 136.2 points. In January, prices for dairy products reached their lowest level in the previous year. This is due to the drop in world prices for creamy and powdered milk.
Meat prices decreased by 0.1 point or 0.1% to 113.6 points compared to December, but remains 1.3% higher than January 2022. The decrease in world prices for chicken meat, beef and pork led to a reduction in the value of this index.
The price of sugar dropped by 1.3 points or 1.1% – the index reached 115.8 points – this is the first decrease in the value of this index after a sharp increase in the previous two months.
“The decline in international sugar prices in January was mainly due to a good harvest in Thailand and favorable weather conditions for the development of sugarcane crops in the main growing areas of this crop in Brazil,” FAO explains.
Recall that by the end of 2022, inflation in Ukraine reached 26.6%, although at least 30% was predicted. At the same time, consumer prices rose 0.7% in December compared to November.
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Source: korrespondent
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