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Concerns over Black Sea Grain Initiative and the Impact on Food Prices: FAO Food Price Index and AMIS Market Monitor Released
The October FAO Food Price Index remained largely unchanged from September, with rising cereal prices balanced by declines in the other commodity groups. The overall Food Price Index has fallen by almost 15 percent from March 2022 but remains 2 percent above its October 2021 levels.
FAO Food Price Index Declines in September, But High Food Prices Remain a Concern
The latest FAO Food Price Index reports that global food prices fell by 1.5 percent in September. However, the Index remains 5.5 higher than its September 2021 level. The decline from August was driven by significant drops in vegetable oil prices and more moderate drops in sugar, meat, and dairy products; cereal prices rose in September.
FAO Food Index Continues to Rise
The FAO Food Price Index continued to rise in November, up 1.2 percent from the previous month and 27.3 percent from November 2020. This increase, driven mostly by rising cereal and dairy prices, brought the Index to its highest level since June 2011.