The average value of the Food and Agriculture Organization of the United Nations (FAO) Food Price Index in August was 96.1 points, which is 2% higher than in July, reaching its highest level since February 2020.
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The average value of the FAO Grain Price Index increased by 1.9% compared to July, exceeding the average for August 2019 by 7%; the most significant growth was demonstrated by feed grain prices. Compared to the previous month, the FAO sugar price index rose by 6.7%, due to forecasts of declining production due to adverse weather conditions in the European Union and Thailand - the second largest exporter of sugar in the world; in addition, rising prices contributed to increased import demand from China. The value of the FAO Vegetable Oil Price Index increased by 5.9% in August. The FAO dairy price index has remained virtually unchanged from July; Against the background of seasonal growth in export opportunities in Oceania, prices for cheese and whole milk powder fell, but butter rose in price, due to limited export resources of European countries, where the August ...
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