FAO: Food is getting cheaper easily, 3rd month in a row, but

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The global food price index fell in June for the third month in a row, but remains close to a record high in March, the Food and Agriculture Organization of the United Nations (FAO) said on Friday, Reuters quoted Agerpres as saying.

The FAO publishes its own Food Price Index every month, which measures price changes in a food basket consisting of cereals, vegetable oils, dairy products, meat and sugar.

In June, this index fell to 154.2 points, compared to the revised value of 157.9 points reached in May. Despite the decline in June, this index is 23.1% higher than in the same period in 2021, amid strong global demand, fears about the impact of the Russian invasion of Ukraine and unfavorable weather conditions, as well as high costs. production and transport.

“The factors that have primarily led to high global prices are still at play,” said FAO chief economist Maximo Torero.

According to the FAO, grain prices fell by 4.1% the previous month, but are still 27.6% higher than in June 2021. The price of vegetable oils calculated by the FAO fell by 7.6% in June compared to May , following the increase in production in the main producing countries and the prospects for increased deliveries in Indonesia.

World sugar prices also fell by 2.6% in June compared to the previous month, with the slow growth of the world economy affecting demand. Meat prices rose 1.7% the previous month to a new record, while dairy prices rose 4.1% in June from May.

Also on Friday, the FAO released a set of estimates of world grain production in 2022. The FAO expects global grain production to increase to 2.792 billion tonnes from a previous forecast of 2.784 million tonnes. , but by 0.6% below world cereal production in 2021.