World food prices in November 2023 decreased by 10.7% compared to November 2022, and compared to the revised October level they did not change. Their index amounted to 120.4 points, Interfax reports with reference to a report by FAO (Food and Agriculture Organization of the United Nations).
The grain price index was 3% below the October level and 19.4% below last year’s record value. World prices for feed grains decreased most significantly over the month – by 5.6%, which was primarily due to a sharp drop in world prices for corn.
The vegetable oil price index increased by 3.4% compared to October after three months of continuous decline.
The price index for dairy products in November increased by 2.2% compared to October. Growth continues for the second month in a row. But in annual terms prices decreased by 16.9%.
The meat price index last month was 0.4% lower compared to October, and 2.4% lower than in November last year. These figures reflect a slight decline in prices for poultry, pork and beef.
The sugar price index in November increased by 1.4% compared to October and by 41.1% in annual terms.
The FAO Food Price Index is a weighted average that tracks international price movements for five major food commodity groups.
Source: Rosbalt
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