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A further decrease in global food prices was recorded in January

Updated Feb 6, 2023
According to FAO estimates, the supply of cereals will continue to decline in 2022-2023. The world food price index fell in January, marking the tenth consecutive monthly decline, the Food and Agriculture Organization of the United Nations reported. The FAO Food Price Index averaged 131.2 points in January, down 0.8 percent from the previous month and 17.9 percent below the peak recorded in March 2022. The index tracks monthly changes in world prices for a basket of food products. Vegetable oil, dairy and sugar price indices contributed to January's declines, while grain and meat price indices remained largely stable. In January, the FAO Cereal Price Index was practically unchanged (increased by only 0.1 percent) compared to the December indicator and was 4.8 percent higher than last year. World wheat prices fell 2.5 percent as production in Australia and the Russian Federation beat expectations. Global corn prices rose in part due to strong export demand from Brazil and concerns ...
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