The FAO's world price index is now down 19% from a record high last March. Read more at straitstimes.com.
LONDON - The United Nations food agency’s world price index fell in February for an 11th consecutive month, and is now down 19 per cent from a record high hit last March following Russia’s invasion of Ukraine.
The FAO cereal price index fell by a marginal 0.1 per cent month-on-month in February, with a marginal rise in wheat prices more than offset by lower rice prices. “In Ukraine, severe financial constraints, infrastructure damage and obstructed access to fields in parts of the country have resulted in an estimated 40 per cent year-on-year reduction in the 2023 winter wheat area, and a well below-average wheat output is anticipated in 2023,” the FAO said.
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