FAO: World food prices declined in January for the 10th ‎consecutive month

The world price index of the Food and Agriculture Organization (FAO) of the United Nations fell in January for the tenth month in a row, and is now down about 18 percent from the highest level recorded in March after the Russian invasion of Ukraine.

According to Reuters, the organization said that its price index, which measures the most traded food commodities in the world, recorded an average of 131.2 points last month, compared to 132.2 points in December. This is the lowest reading since September 2021

The December figure was revised down from the previous estimate of 132.4 points

The FAO said that the decline in the prices of vegetable oils, dairy products and sugar helped to decline the index, while the prices of cereals and meat remained largely stable.

In separate estimates of cereal supply and demand on Friday, the FAO raised its forecast for global cereal production in 2022 to 2.765 billion tonnes from a previous estimate of 2.756 billion tonnes.