The Food and Agriculture Organisation’s (FAO) global food price index declined in June, hitting its lowest level in over two years. The fall was attributed to decreased sugar prices, vegetable oils, cereals, and dairy products.
The FAO’s price index, monitoring the most globally traded food commodities, dropped to an average of 122.3 points in June, down from the revised 124 in May, according to the agency’s report on Friday.
This marked the lowest score since April 2021 and indicated a 23.4% decline from the all-time high seen in March 2022, following the onset of Russia’s invasion of Ukraine.
In a distinct cereals supply and demand report, the FAO predicted a slight increase in world cereal production this year, estimated at 2.819 billion tonnes, a 1.1% rise from 2022.
The agency attributed this heightened prediction largely to improved prospects for worldwide wheat production, with the forecast raised by 0.9% to 783.3 million tonnes.
The FAO’s cereal price index saw a 2.1% dip in June from the previous month, with the prices of maize, barley, sorghum, wheat, and rice all experiencing a decrease.
 global food price index witnessed a decline in June, hitting its lowest level in over two years due to a decrease in the prices of sugar, vegetable oils, cereals, and dairy products.){kind=link}