Global increase for the second consecutive month in food prices

Global increase for the second consecutive month in food prices
Global increase for the second consecutive month in food prices

Global food prices rose for the second consecutive month in April, driven by higher prices for meat, dairy and grains, according to a report from the United Nations Food and Agriculture Organization. Food and Agriculture (FAO) published this Friday.

The report found that the FAO Food Price Index, which monitors fluctuations in global prices of a basket of commodities, rose 0.3% last month from the previous month. This index had recorded a decline every month from August to February.

Over the year, the trend nevertheless remains downward with a decline of 9.6% compared to the same period in 2023.

Details of increases:

  • Meat prices recorded the largest increase with 1.6%. This increase is mainly due to strong demand for poultry imports from Middle Eastern countries and a drop in production linked to avian flu.
  • Cereal prices increased by 0.3%.
  • Oil prices also increased by 0.3%, driven by those of sunflower oil and rapeseed.

Notable drops:

  • Sugar is an exception to the general trend, with a drop of 4.4%.
  • Dairy products saw their prices decrease by 0.3%.

This FAO report highlights the varying impact of international market conditions on different segments of the agri-food sector, directly affecting consumer prices.

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