FAO: global food prices fell modestly in February
Food prices on the world market decreased moderately in February compared to January.
According to data on the website of the Food and Agriculture Organization of the United Nations (FAO), the overall price index was 129.8 points in February, which is a decrease of 1.4 points (0.6 percent) compared to January. This was the 11th consecutive monthly decline. Together with the decrease in February, the index was already 29.9 points (18.7 percent) away from its peak reached in March 2022.
The weakening of the index in February was caused by a significant drop in the price indices of vegetable oils and dairy products, as well as a minimal decrease in the price indices of cereals and meat, while the sugar price index rose sharply. The FAO food price index is a trade-weighted index that takes into account the international market prices of the five most important food commodities – vegetable oils, cereals, meat, dairy products and sugar.
The FAO cereal price index averaged 147.3 points in February, which is 0.1 percent lower than in January and 2 points (1.4 percent) higher than the level of a year earlier. Among the main cereals, among others, the price index of wheat rose modestly, by 0.3 percent, that of corn, minimally, by 0.1 percent, while that of rice decreased by 1 percent, and that of barley by 0.9 percent.
Related news
FAO: this year’s world grain harvest could be at a record level
The world’s grain harvest could be a record 2.854 billion…
Read more >The FAO food price index remained stable in June
According to the Friday report of the UN Food and…
Read more >More scholarship students completed their agricultural studies in Hungary
The students of the scholarship program jointly supported by Hungary…
Read more >Related news
Healthy summer nutrition tips with Eisberg
With the arrival of the really hot summer and the…
Read more >Large companies are resistant to economic uncertainty
Restrained expectations characterize the domestic corporate sector for the next…
Read more >Company trend in 2024: a more positive half-year, but still a negative message
The lowest number of companies in the last five years…
Read more >