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FAO: food price indices fall for the fourth consecutive month in the world

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The UN Food and Agriculture Organization (FAOfor its acronym in English) reported that the world food price index fell again in July, moving away from the historical highs reached in March.

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The registry, which evaluates the most traded food products worldwide, reached an average of 140.9 points last month, compared to a revised 154.3 in June. The June figure was previously at 154.2.

As reported by the Reuters agency, the July index was still 13.1% higher than a year earlier, driven by the impact of the invasion of Ukraine, adverse weather for global crops and high production and transportation costs.

“The decline in the prices of food products from very high levels is welcome, however, many uncertainties remain,” said the chief economist of the FAO, Máximo Torero.

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Gloomy global economic prospects, currency volatility and high fertilizer prices – which may affect future production and farmers’ livelihoods – pose major challenges to global food security, he noted.

FAO: soybeans, milk, sugar, meat and cereals fall

Price indices for vegetable oils, sugar, dairy, meat and cereals all fell in July, and wheat plunged 14.5%, due in part to the agreement reached between Ukraine, Russia, Turkey and the United Nations. to unblock grain exports from Black Sea ports.

The corn price index fell 10.7% in July, also due in part to the agreement between Russia and Ukraine, as well as higher seasonal availability from the main producers, Argentina and Brazil, according to the FAO.

The data

– On Friday, three ships with a total of 58,041 tons of corn were authorized to leave the Ukrainian ports, according to the organization that organized the operation. A first ship with Ukrainian grain set sail from Odessa on Monday.

Source: Larepublica

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