In February, the FAO Food Price Index fell for the seventh month in a row, with cereal and vegetable oil prices declining while sugar prices increased.
Global food prices experienced a decline in February, according to the United Nations' Food and Agriculture Organization (FAO). This marks the seventh consecutive month of decrease, with the FAO Food Price Index falling to 117.3 points from 118.2 points in January. The cereal index, including major cereals such as wheat, maize, and rice, dropped by 5% in February and stood 22.3% below its level a year ago. Vegetable oil prices also fell by 1.3%, with prices now 11% lower than a year ago. However, the sugar index increased by 3.2% in February, driven by concerns over production declines in Brazil, Thailand, and India.
March 08, 2024
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