Global food prices fell by 10.1% in December 2023, compared to the same month in 2022, and by 1.5% compared to November,

according to a report from the Food and Agriculture Organization of the UN (FAO) report. According to the experts, in 2023 the index was 13.7% below the previous year’s average, and only the international sugar price index was higher for this period.

In particular, the cereal price index in December 2023 increased by 1.5% compared to November due to higher prices for wheat, corn, rice, and barley, as well as logistical disruptions. Overall, the index for the year was 15.4% below the 2022 average.

However, the price index for vegetable oils decreased by only 1.4% compared to November, which reflects low purchases of palm, soybean, rapeseed, and sunflower oil. Generally, in 2023 this indicator was 32.7% lower than the previous year’s level.

The sugar price index decreased by 16.6% compared to November, reaching a nine-month low. However, this indicator is still 14.9% higher than in December 2022.