Hard Wheat

Declining cereal prices drove the FAO Food Price Index down slightly in July despite increasing vegetable oil, meat, and sugar prices. The Index was 3.1 percent lower than its July 2023 level and nearly 25 percent below the high seen in March 2022.

After three consecutive months of increasing prices, the FAO Food Price Index remained steady in June, with rising vegetable oil, sugar, and dairy prices balancing falling cereal prices. The Index remained 2.1 percent below its June 2023 level and almost 25 percent below the peak seen in March 2022.

The FAO Food Price Index rose marginally in April but remained 7.4 percent below its April 2023 level. The slight increase was driven by rising meat, vegetable oil, and cereal prices.

After seven months of declines, the FAO Food Price Index rose slightly in March due to increased vegetable oil, dairy, and meat prices. The Index remained 7.7 percent below its March 2023 levels.

The FAO Food Price Index continued its decline in February, falling marginally due to declines in cereal and vegetable oil prices. The February Index was down 10.5 percent from its 2023 level.