FAO: food prices are low

By: Trademagazin editor Date: 2020. 06. 04. 11:12

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International food prices are at a low point, while the first forecasts are about outstanding grain production, trade and consumption – according to the recent statement of the World Food and Agriculture Organization (FAO).

For the fourth month in a row, the international market price of basic foodstuffs has been declining amid significant stocks and weak demand, the latter mainly due to the economic downturn due to the pandemic.

The FAO food price index, which tracks monthly price changes of the most important food items in international trade, closed at 162.5 points in May. That is 1.9 percent lower than the previous month. There has been no example of such a low value since December 2018. (origo)