In September, global food prices continued their sixth consecutive month of decline, with the FAO Food Price Index averaging 136.3 points, down 1.5 points (1.1%) from August.
This is reported by the Food and Agriculture Organization of the United Nations (FAO).
FAO notes that the decline in the index last month was due to a sharp drop in world prices for vegetable oils and a moderate decline in the prices of sugar, meat and dairy products, which was more significant than the increase in the cereal price index.
“Despite the further fall, the PICF turned out to be 7.2 points (5.5%) higher than the corresponding period last year,” the organization noted.
The Grain Price Index averaged 147.8 points in September, up 2.2 points (1.5%) from August and 14.9 points (11.2%) from September 2021.
World wheat prices rose by 2.2% due to the growing uncertainty about the continuation of the Black Sea Grain Initiative after November and the possible consequences of this for Ukraine’s exports. And also because of concerns about the lack of rainfall in Argentina and the United States of America
The vegetable oil price index averaged 152.6 points, down 10.8 points (6.6%) from August and the lowest since February 2021.