Global Prices of Food Items Fell for the 12th Consecutive Month
The UN food agency’s World Price Index fell for the 12th month in a row in March and is 20.5 percent lower than a year ago after Russia intervened in Ukraine.
The Food and Agriculture Organization (FAO) price index tracks commodities that are traded globally.
The agency said the index stood at 126.9 last month, up from 129.7 in February. This is the lowest level since July 2021.
FAO has said that prices have declined due to adequate supplies, reduced import demand and Ukraine’s agreement on safe export of grain through the Black Sea.
The Rome-based agency said the decline in the index reflected lower prices for coarse cereals, oils and dairy products, while sugar and meat prices rose.
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Summary
The UN food agency's World Price Index fell for the 12th month in a row in March and is 20.5 percent lower than a year ago after Russia intervened in Ukraine.
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