This is the message of the FAO food price index, which has started to fall
There is no sign of domestic food prices yet, but the FAO food price index has been falling for the fourth month. Zoltán Fórián, the leading agricultural expert of the Erste Agrár Kompetencia Központ, presents on the Agrokép website what causes the decline in each product line and what this indicates for our markets.
The FAO Food Price Index (FFPI) stood at 140.9 points in July 2022, which means a decrease of 13.3 points (8.6 percent) compared to June. This marks the fourth consecutive monthly decline. Despite this, it still remained 16.4 points (13.1 percent) above the same month last year. July’s decline was the sharpest monthly drop in the index since October 2008, led by a significant drop in the vegetable oil and grain indices, while sugar, dairy and meat also fell, but to a lesser extent.
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