UN: Global Food Prices Down By 1.2% In October
The United Nations Food and Agriculture Organization (FAO) said on Friday that the FAO Food Price Index declined 1.2% in October compared to the previous month to 133.9 points. The figure was 5.9% higher than a year earlier but remained 16.4% below its peak in March 2022.
Cereal prices dropped 4.5% month-on-month, following four consecutive months of increases. Sugar jumped 6.6% from September, while vegetable oils were up 0.3%. Meat prices decreased 1.2%, and dairy prices slipped 1.1% on a monthly basis.
"International maize quotations also eased after reaching a three-year high in September, weighed down by harvest-related pressure in the United States of America, expectations of ample supplies in major exporting countries in South America, and renewed prospects for an easing of tensions in the Black Sea region," FAO said.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment