In 2024, global food prices will fall by 2%, according to the Food and Agriculture Organization of the United Nations

The calculated price index notably fell by 13.3% for cereals compared to 2023 and by 13.2% for sugar over the same period.

Global food prices fell by 2.1% in 2024 compared to the previous year, mainly due to lower global prices for cereals and sugar, according to the United Nations Food and Agriculture Organization. Food and Agriculture (FAO). The price index calculated by this agency, which tracks the variation in international prices of a basket of basic products, has notably fallen by 13.3% for cereals compared to 2023 and by 13.2% for sugar. over the same period.

These declines were partly offset by the increase in prices of vegetable oils (+9.4%), dairy products (4.7%) and meats (2.7%). After the surge in the prices of cereals, and particularly wheat, in the wake of the Russian invasion of Ukraine, prices continued to fall to return to their pre-war prices on international markets.

In December 2024, wheat export prices remained generally stable. “Downward pressure from weak international demand and increased seasonal supplies from crops in Argentina and Australia were offset by upward pressure from poor winter crop conditions in Russia “explains the monthly FAO report.

World corn prices increased slightly, “supported by a slight increase in export sales and a tightening of supply in the United States, as well as strong demand for Ukrainian origins”. Among other coarse grains, world prices of barley increased, while those of sorghum declined.