FAO: Food prices fell to their lowest level in May

FAO: Food prices fell to their lowest level in May

FAO: Food prices fell to their lowest level in May

The Food and Agriculture Organization of the United Nations (FAO) confirmed today (Friday) that world food prices fell last May, to their lowest levels in two years.

The “FAO” index indicated that the significant declines came in the prices of vegetable oils, grains and dairy products, while the increases were in the prices of sugar and meat.

The “FAO” indicated that its index, which tracks the prices of the most traded food commodities globally, is now 22% lower than the level reached in March 2022, which is the highest level food prices reached after the start of the Russian-Ukrainian war.

While the organization expected that the global production of cereals this year will reach 2.813 billion tons, an increase from 2022, which mainly reflects an expected increase in maize production.

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