World food prices continue to fall for more than a year – FAO
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In June, the average value of the Food Price Index of the Food and Agriculture Organization of the United Nations (FAO) was 122.3 points, which is 1.4% lower than the May indicator and 23.4% lower than the maximum level reached in March last year.
About this FAO reports.
“The decrease in the value of the index recorded in June compared to the level of the previous month is due to the fall in the value of the price indices for sugar, oil, grain and dairy products, while the value of the price index for meat has practically not changed,” the report says.
The average value of the Price Index for crops amounted to 126.6 points, which is 2.1% lower than the May indicator. The decrease in the value of this index this month is associated with the drop in world prices for all major grains.
Price index for vegetable oils The FAO in June stood at 115.8 points, down 2.4% from its May reading and reaching its lowest level since November 2020. This trend is due to the drop in world prices for palm and sunflower oil against the background of some growth in quotations of soybean and rapeseed oil.
The average value of the Price Index for dairy products was 116.8 points, which is 0.8 percent lower than the May indicator and is associated with a reduction in international prices for cheese.
Price index for meat amounted to 117.9 points, practically unchanged compared to the May level: the increase in international quotations for poultry and pork was almost completely offset by the decrease in quotations for beef and lamb.
Price index for sugar reached 152.2 points, which is 3.2% below its May value and its first decline after a continuous four-month rise.
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