The global price of sugar falls - But the world food index remains higher than in 2023
World food prices fell slightly in December compared to November, but are still at high levels, the United Nations Food and Agriculture Organization announced.
The value of the global food price index for the month of December is 127 points, which represents a decrease of 0.5 percent compared to 127.6 points in November.
The result is a consequence of the monthly decrease in the value of the index in the categories of sugar, dairy products and vegetable oils. Cereals did not change much, while meat showed a slight increase.
The sugar price index fell 5.1 percent on the month, driven by higher-than-expected production in Brazil in the second half of November, as well as improved prospects for the April sugarcane harvest.
The average value of the dairy product price index in December fell 0.7 percent month-on-month to 138.9 points, representing the first decline after seven consecutive months of growth. On an annual basis, dairy products are 17 percent more expensive compared to December 2023.
In December, the vegetable oil price index fell by 0.5 percent, but on an annual basis it increased by 33.5 percent compared to the same month of 2023.
According to the report, the total value of the world food price index for December was 6.7 percent higher than in the same month of 2023, but at the same time 20.7 percent lower than the peak of March 2022.
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