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    Home » Global Food Prices Mark First Decline in a Year
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    Global Food Prices Mark First Decline in a Year

    July 8, 20211 Min Read
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    The Food Price Index of the United Nation’s Food and Agriculture Organization fell for the first time in a year in June, due mainly to the decline in vegetable oil and cereal prices.

    • The FAO Food Price Index fell 2.5% month on month to 124.6 points in June, marking the first decline after 12 straight months of growth. It was 33.9% higher year on year.
    • Declines were recorded in vegetable oil prices due to international movements; in cereals, as maize and wheat prices fell; and in dairy due to lower global import demand.
    • Sugar prices climbed for the third straight month, as weather uncertainties in Brazil — the world’s largest sugar exporter — pushed prices upward.
    • Meat prices climbed for the ninth consecutive month but were offset by the decline in prices of other food commodities. Prices are still 8.0% below the August 2014 peak.

    The FAO estimates that some 45 countries need external assistance for food, due to ongoing conflicts and climate-related shocks in their areas.
    Source: FAO

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