Food Prices
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Food Price Index Stable in September But Rice Prices Remain a Concern
The FAO Food Price Index remained virtually unchanged month-to-month in September and almost 24 percent lower than the peak reached in March 2022.
Good News for Some Countries, But Acute Food Insecurity Persists Worldwide: Global Report on Food Crises Midyear Update Released
The Global Report on Food Crises (GRFC) 2023 Midyear Update finds that while some countries have seen improvements in hunger and malnutrition in the first half of 2023, high levels of acute food insecurity remain worldwide. As in previous years, conflict, climate change, and economic shocks continue to be the main drivers of food crisis, with conflict playing the predominant role from January through August 2023.
Food Price Index Declined in August, While Rice Prices Spiked
The FAO Food Price Index fell by around 2 percent in August, driven by declines in cereal, vegetable oil, dairy, and meat indices. This decline placed the Index 24 percent below the peak seen in March 2022. The major exception was rice prices, which saw a significant increase in August.
Rising Vegetable Oil Prices Drive Up FAO Food Price Index
While the FAO Food Price Index saw a minor increase in July, it remains 16 percent below its July 2022 levels. Rising vegetable oil prices drove the month-to-month increase.
End of the Black Sea Grain Initiative: Implications for sub-Saharan Africa
Russia’s July 17 withdrawal from the Black Sea Grain Initiative (BSGI), has sparked fears of reduced exports of wheat and other key commodities to developing countries, along with other market disruptions.