Global food prices fall for the first time in 12 months

Published Jul 10, 2021

Tridge summary

The FAO Food Price Index fell 2.5 percent in June after a year of consecutive increases. The United Nations (UN) Food and Agriculture Organization (FAO) announced the Global Food Price Index for June. Accordingly, the FAO Food Price Index decreased by 2.5 percent on a monthly basis in June, while it increased by 33.9 percent on an annual basis. The index, which decreased by 2.5 compared to May, was announced as 124.6 in June 2021. The June drop was the first drop in the Index after twelve consecutive months of increase.

Original content

The decline in June reflected lower prices for vegetable oils, grains and dairy products. The FAO Food Price Index tracks changes in international prices of the most traded food products worldwide. The June decline reflected lower prices for vegetable oils, grains and, to a more modest extent, dairy products, which more than offset generally higher meat and sugar prices. The FAO Vegetable Oil Price Index fell 9.8 percent in June to its lowest level in four months. The monthly decline mainly reflects lower international prices for palm, soy and sunflower oils. The FAO Grain Price Index declined more moderately than May, down 2.6 percent, but rose 33.8 percent from June 2020. International corn prices fell 5.0 percent, led by lower prices in Argentina as supply from recent harvests increased. International wheat prices fell slightly by 0.8 percent in June, with a positive global outlook supported by increased production prospects from many key producers that outweighed much of the ...
Source: Magazinebbm
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