FAO: Global food prices rose minimally in March

The leading global price index of international food commodity prices was little changed on a monthly basis in March, rising to 127.1 points from 126.8 points in the previous month. The March figure is 6.9 percent higher than a year earlier, but 20.7 percent below the peak of 160.2 points set in March 2022.

The FAO food price index is a trade-weighted indicator that takes into account the international market prices of the five most important food commodities – vegetable oils, cereals, meat, dairy products and sugar.

The average of the index last year was 122 points, 2.1 percent lower than in 2023.

The FAO Cereal Price Index averaged 109.7 points in March, down 2.9 points (2.6 percent) from the previous month and 1.2 points (1.1 percent) from a year earlier. International prices for maize, wheat and rice weakened in March, while world prices for barley rose month-on-month.