On the global market, grain prices fell to a two-year low

Published 2023년 7월 9일

Tridge summary

The FAO Food Price Index reached its lowest level in two years in June, driven by lower prices of sugar, oil, dairy products, and cereals. The index decreased by 1.4% from May and 23.4% from its peak in March 2022. The decline in prices was influenced by factors such as increased corn supplies, improved production outlooks in key areas, and a lower export tax in the Russian Federation.

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Original content

The world price index for agricultural products fell to its lowest level in two years in June this year, due to lower prices of sugar, oil, dairy products and cereals, FAO reports. Follow the news in a convenient format: Follow us on Twitter The FAO Food Price Index, which tracks monthly changes in international prices for commonly traded food commodities, averaged 122.3 in June, down 1.4 percent from May and 23.4 percent from March 2022, when it was at its peak. The FAO cereal price index decreased by 2.1% compared to May. International feed grain prices fell 3.4% in June due to increased corn supplies from harvests in Argentina and Brazil and an improved outlook for production in key US production areas. International wheat prices fell 1.3% with the start of harvest in the Northern Hemisphere, under the influence of sufficient supply and a lower export tax in the Russian Federation, as well as improved conditions in the US. High domestic food prices, which differ from the FAO ...

Source: Landlord