In August, prices for all types of grain crops and vegetable oil decreased against the backdrop of the continuation of exports of agricultural products from Ukraine.
World food prices fell in August. This trend continues for the fifth consecutive month, the Food and Agriculture Organization of the United Nations (FAO) said yesterday.
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Thus, in August, the FAO Food Price Index reached 138.0 points, which is 1.9% lower than in July, but 7.9% higher than in August 2021. At the same time, all five sub-indices decreased moderate.
FAO Cereal Price Index in August averaged 145.2 points, which is 1.4% lower than in July, but still 11.4% higher than August 2021. Last month, world wheat prices fell by 5.1%, which recorded a third month of decline, driven by improved production prospects, especially in Canada, the US, the Russian Federation, as well as the resumption of exports from Black Sea ports from Ukraine for the first time in more than five months. However, world wheat prices remained 10.6% higher than their values in August last year.
FAO Vegetable Oil Price Index averaged 163.3 points in August, down 3.3% from the previous month, leaving the index slightly below last year’s level. Prices were also affected by the resumption of shipments of vegetable oil from Ukraine.
FAO Dairy Price Index in August averaged 143.5 points, down 2.0% from July, down for the second month in a row, but still up 23.5% from last year.
FAO Meat Price Index averaged 122.7 points in August, down 1.5% from July, which was the second consecutive monthly decline from the peak reached in June 2022, but remained 8.2% above its corresponding values a year ago.
FAO Sugar Price Index averaged 110.4 points in August, down 2.1% from July, falling for the fourth consecutive month and reaching its lowest level since July 2021.
It will be recalled that in March 2022, the main indicator of world food prices increased by 12.6% and reached a historical maximum. The FAO Food Price Index stood at 159.3, up 33.6% from March 2021.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.