Rome, SANA- Global food commodity prices fell in January, led by sharp declines in sugar and vegetable oils, the Food and Agriculture Organization (FAO) said on Feb 7.
The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 124.9 points in January against 127 in December 2024. Despite the monthly fall, the index remains 6.2 per cent higher than a year earlier but is 22 per cent below its March 2022 peak.
Sugar prices dropped 6.8 per cent from the previous month and 18.5 per cent on the year. This is largely attributed to improved global supply prospects, thanks in part to favorable weather in Brazil and India resuming exports.
Vegetable oil prices declined 5.6 per cent in January, as global palm and rapeseed oil prices fell while soy and sunflower oil quotations remained stable. Despite the January dip, the index is still up 24.9 per cent on the year.
Meat prices shed 1.7 per cent in January.
By contrast, cereal prices saw a slight uptick, climbing 0.3 per cent from December 2024, but remain 6.9 per cent lower than in January 2024. While wheat export prices fell slightly, maize prices increased due to revised lower production and stock forecasts in the US.
Rice prices dropped 4.7 per cent, reflecting ample supplies.
Reuters
Khadega/MHD Ibrahim
