Downward slide in global food prices continues: FAO

Loading rice in Bangladesh (Photo via FAO)

(United Nations News) Global food prices dropped for the tenth consecutive month in January, the Food and Agriculture Organization of the United Nations (FAO) said on Friday.

Price indices for vegetable oils, dairy and sugar drove the January decline, the UN food agency said, issuing two new reports on food production expectations.

The FAO food price index fell 17.9 per cent below its all-time peak, reached in March 2022 following Russia’s full-scale invasion of Ukraine.

The downward pricing trend was helped in part by a pivotal agreement signed in July to unblock Ukraine grain exports amid the ongoing war.

Read more at: United Nations News

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