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Global food prices fall for the first time in 12 months

Published Jul 10, 2021

Tridge summary

Global food commodity prices fell in June for the first time in 12 months, according to a benchmark United Nations report released yesterday.

Original content

The FAO Food Price Index averaged 124.6 points in June 2021, down 2.5 percent from May, but still 33.9 percent higher than its level in the same period last year. The decline in June marked the first drop in the Index following twelve consecutive monthly increases. The FAO Food Price Index tracks changes in the international prices of the most globally traded food commodities. The drop in June reflected declines in the prices of vegetable oils, cereals and, though more moderately, dairy products, which more than offset generally higher meat and sugar quotations. The FAO Vegetable Oil Price Index fell by 9.8 percent in the month, marking a four-month low. The sizeable month-on-month drop mainly reflects lower international prices of palm, soy and sunflower oils. The FAO Cereal Price Index fell by a more moderate 2.6 percent from May, but remained 33.8 percent higher than its value in June 2020. International maize prices dropped by 5.0 percent, led by falling prices in Argentina ...
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