The reference index of international prices of food products calculated by the Food and Agriculture Organization of the United Nations (FAO) remained largely stable in September – compared to August – as the decline in the prices of vegetable oils, dairy products (- 2.3%) and meat (-1%), in the face of the notable increase in sugar and corn prices. The decrease in meat is explained by the low demand for imports.
Thus, in total food registers 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.
However, the cereal price ratio rose 1% from last month mainly due to the 7% increase in international corn prices, driven by strong demand for supplies from Brazil and the slowdown in corn sales. farmers in Argentina.
Wheat prices decreased by 1.6%, due to the abundance of supply and the good production prospects of the Russian Federationand the price index for all types of rice fell 0.5% thanks to generally low demand for imports.
While the sugar price index increased 9.8% since Augustreaching its highest level since November 2010 amid growing concerns about the prospects for further global supply shortages in the upcoming campaign.
Source: Larepublica
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