Global food prices continued to fall for the third consecutive month in June, with wheat prices falling for the first time, the UN’s Food and Agriculture Organization (FAO) said on Friday.
After hitting a record high in March as a result of the war in Ukraine, the FAO food price index, which tracks monthly changes in international prices for a basket of staple foods, fell 2.3% across most indexes (cereals, vegetables). oils, sugar) decreased in June.
The FAO grain price index decreased by 4.1%, and the price of wheat decreased for the first time after this record (-5.7%). A decline that can be explained in particular by “seasonal availability due to new harvests in the northern hemisphere, improved growing conditions in some major producing countries and higher production prospects in the Russian Federation.“. “Although the FAO food price index fell for the third month in a row in June, it remained close to the all-time high recorded in March this year.“, nuanced Maximo Torero Callen, Chief Economist of FAO.
Source: Le Figaro
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