Thursday, May 2
World food prices ar at a two-year low.
Monday, June 5, 2023
The core index of global food prices fell in May 2023 to the lowest level in two years. According to the UN’s FAO, this happened against a significant drop in quotations for most cereals, vegetable oils, and dairy products.
The food price index averaged 124.3 points in May, down 2.6% from April and 22.1% below the all-time high in March 2022. The grain price index decreased by 4.8% compared to April. The oil price index fell by 8.7% in May, an average of 48.2% below the previous year’s level. The price index for dairy products decreased by 3.2% compared to April.
On the other hand, the sugar price index grew for the fourth month in a row, increasing by 5.5% compared to April and reaching a level almost 31% higher than a year earlier. The meat price index also increased in May, increasing by 1%.
