FAO: Global food prices fell in March

By: Trademagazin Date: 2023. 04. 10. 11:18

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According to data published on the website of the Food and Agriculture Organization of the United Nations (FAO) on Friday, the overall price index was 126.9 points in March, which is a decrease of 2.8 points (2.1 percent) compared to February. This was the 12th consecutive monthly decline.

Together with the decrease in March, the index was already 32.8 points (20.5 percent) away from its peak reached in March 2022.

The weakening of the overall index in March was caused by the drop in the grain, vegetable oil and milk price indices, while those of sugar and meat rose.

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.