The FAO’s food index, which tracks the monthly change in international prices of a basket of food staples, has steadily declined from a record high reached in March following Russia’s invasion of Ukraine. In August, it recorded another, slighter drop, by 1.9% in one month.
The world food prices continued to fall them for the fifth consecutive month, with those of vegetable oils to fall even below the level they were in August 2021, the Food and Agriculture Organization of the United Nations (FAO) announced today.
The FAO’s food index, which tracks the monthly change in international prices of a basket of food staples, has steadily declined from a record high reached in March following Russia’s invasion of Ukraine. In August he noted new, smaller decline of 1.9% in a month.
FAO’s vegetable oil index fell 3.3% in August, “reaching a slightly lower level than in August 2021″. Prices of sunflower oil, palm oil and canola oil fell, with only soybean oil “increasing somewhat, due to concerns about the impact of adverse weather conditions on production in the United States“, the organization underlines.
The FAO index for cereals fell by 1.4% in a monthunder the influence of a “a 5.1% decline in international wheat prices, reflecting improved production prospects in North America and Russia as well as resumption of exports from Ukraine’s Black Sea ports”.
RES-EMP
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