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Global food prices fall for second consecutive month – FAO Food Price Index

Aug 8, 2021Aug 8, 2021 Editor

GLOBAL – Global food commodity prices fell in July for the second consecutive month mainly driven by higher-than-expected crop yields, declines in the quotations for most food products, and a slow pace of sales caused by high freight costs and logistical hurdles. According to the recently released FAO report, the Food Price Index averaged 123.0 points in July 2021, 1.2 percent lower than the previous month although still 31 percent higher than its level in the same period of 2020. The declines in July follow a similar trend observed in June, which marked the first drop in…

FAO Food Price Index falls for the first time in 12 months

Jul 8, 2021Jul 8, 2021 Editor

GLOBAL – The FAO Food Price Index (FFPI) which is a measure of the monthly change in international prices of a basket of food commodities averaged 124.6 points in June 2021, down 3.2 points (2.5 percent) from May. The fall has been attributed to declines in the prices of vegetable oils, cereals, and, to a lesser degree, dairy prices, which more than offset generally higher meat and sugar quotations. Maize prices dropped by 5.0 percent in June as a result of increased supplies from recent harvests in Argentina, Brazil, and the United States. Among other coarse…