Global food prices fall in March but still high, FAO says

World prices for food they fell again in March but are still “very high,” the Food and Agriculture Organization of the United Nations (FAO) said.

On average, it is considered that quotes last month they fell 20.5% from the record set a year ago due to the impact of the war in Ukraine.

However, when comparing prices with respect to the previous month, it is assumed that Prices they had a decline of 2.1%.

Abundant supply, weak import demand and the expansion of the Black Sea Grain Initiative (a transport corridor allowing exports from Ukraine) contributed to this decline, FAO said in a statement.

For his part, FAO Chief Economist Maximo Torero confirmed that Prices fell globally, they are still very high as they “continue to rise in domestic markets, creating additional food safety concerns.”

Falling prices for cornup 5.6% month-on-month and vegetable oils (-3%) offset a rise in sugar (+1.5%), which is at its “highest level since October 2016 due to downside forecast concerns.” production. in India, Thailand and China,” the organization said.

The price of wheat fell 7% “due to strong production in Australia, improved planting conditions in the European Union, supplies from Russia and continued exports from Ukraine.”

For its part, world prices for corn fell 4.6%, partly due to “expectations for a record harvest in Brazil” and rice prices fell 3.2% due to “harvest now or soon in major exporters such as India, Vietnam and Thailand.

(According to the AFP agency).