The United Nations (UN) food agency’s world price index fell marginally in November, marking an eighth straight monthly fall since a record high in March after Russia’s invasion of Ukraine.
The Food and Agriculture Organization’s price index, which tracks the most globally traded food commodities, averaged 135.7 points last month, down from 135.9 for October, the agency said on Friday.igure was unchanged from the FAO’s previous estimate. Lower readings for cereals, meat and dairy products in November offset higher prices for vegetable oils and sugar, the FAO said.
The slight decrease in November meant that the FAO food index is now only 0.3% above its level a year earlier, the agency said. The FAO warned last month that expected record food import costs in 2022 would lead the poorest countries to cut back on shipped volumes. The forecast was 2% below the estimated output for 2021 and would mark a three-year low, the FAO said.
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