FAO: global food prices increased for the second month in April on a monthly basis

By: Trademagazin Date: 2024. 05. 03. 12:38

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In April, global food prices rose for the second month in a row in a monthly comparison, this time mainly due to the increase in the price of meat, vegetable oils and cereals, which could not be offset by the decrease in the price of sugar and dairy products.

The leading overall price index of international food raw material prices rose for the second consecutive month in April after seven months of decline. The April indicator stood at 119.1 points, 0.3 percent higher than in March, but 9.6 percent below last April.

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 rose by 0.3 percent compared to March, ending a three-month decline. The world market export prices of wheat stabilized in April, those of corn increased, and those of rice fell.