FAO: Global food prices fall for 6 consecutive months

Global food prices have been declining for six months in a row after reaching a record high in March, Report informs referring to the UN Food and Agriculture Organization (FAO).

The FAO Food Price Index, which reflects monthly changes in international prices for basic foodstuffs, stood at 136.3 in September, down 1.1% from August but up 5.5% from September last year.

The report indicated that the vegetable oil price index fell 6.6% on the month, the lowest since February 2021. This happened due to the fact that export supplies of soybean oil from Argentina increased, as well as supplies of sunflower oil from the Black Sea region.

The price index for dairy products fell by 0.6% over the month, for meat - 0.5%, for sugar - by 0.7%.