The UN Food and Agricultural Organization (FAO) Global Food Price Index (FFPI) declined for a seventh month in a row, with decreases in cereals and vegetable oils offsetting increases in sugar, meat, and dairy products. Maize export prices dropped the most, while wheat prices declined due to strong exports from Russia. Rice prices also fell, but sugar and meat prices rose.
In February, the UN Food and Agricultural Organization Global Food Price Index , which measures the monthly change in the international prices of a basket of food commodities, fell for a seventh month in a row – declining by 0.7% from its revised January level.
Product categories that drove much of the upward month on monthentum include housing & utilities, miscellaneous goods & services , food and non-alcoholic beverages and transport. More positively, however, food and NAB inflation slowed to 6.1% in February, with most food price categories recording lower annual rates.
By the end of February, the initial production forecast from the Crop Estimates Committee indicated a projected decrease of 12.6% in the total domestic maize yield – down to 14.5 million tonnes from the previous season’s 16.4 million tonnes.
UN Food And Agricultural Organization FAO Global Food Price Index FFPI Cereals Vegetable Oils Sugar Meat Dairy Products Maize Wheat Rice Export Prices Russia
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