The reference index of international prices of food products that calculates the FAO remained largely stable in September as the decline in the prices of vegetable oils, dairy products and meat was offset by a notable increase in those of sugar and corn, the agency reported today.
The Food and Agriculture Organization (FAO) food price index recorded an average of 121.5 points in September, compared to 121.4 points in August and 24% below its maximum level, reached in March 2022.
The cereal price index rose 1% from last month mainly due to the 7% increase in international grain prices. corndriven by strong demand for supplies from Brazil and the slowdown in sales from farmers in Argentina.
Those of wheat decreased by 1.6%, due to abundant supply and good production prospects in the Russian Federation, and the price index for all types of rice fell by 0.5% thanks to generally low demand for imports.
The price index of sugar rose 9.8% since August, reaching its highest level since November 2010 amid growing concerns about the prospect of tighter global supply in the upcoming campaign.
That of the prices of the dairy products fell 2.3% since August, its ninth consecutive decline, due to low global import demand and large inventories in major producing regions.
While the price index of meat fell 1% compared to the previous month, due to the combination of low demand for imports and abundant exportable availabilities on a global scale, which reduced the prices of pork, poultry and sheep meat.
Source: Larepublica
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