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The FAO Food Price Index significantly lower than that of July 2022

15/08/2023

François-Xavier Branthôme
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FAO Food Price Index rebounds slightly in July 2023
The UN agency has issued its latest Food Price Index, which tracks the monthly international prices of cereals, vegetable oil, dairy, meat and sugar. FAO Food Price Index averaged 123.9 points in July up 1.3% m-o-m.

Global food commodity prices rose in July, influenced by the termination of the Black Sea Grain Initiative and new trade restrictions on rice. The FAO Food Price Index, which tracks monthly changes in the international prices of globally-traded food commodities, averaged 123.9 points in July, up 1.3% from the previous month while 11.8% below its July 2022 level. The FFPI’s rebound in July was led by a solid rise in the vegetable oils price index, partially offset by a significant decline in the sugar price index, together with small decreases in the price indices for cereals, dairy and meat.
 

Some complementary data
Sources: fao.org, news.un.org, france24.com