FAO: Global Food Price Index Rises by 0.5% in June
The Food and Agriculture Organization (FAO) of the United Nations announced that the average global food price index reached 128 points in June, reflecting a slight increase of 0.5% compared to May and a rise of 5.8% compared to the same period last year.
The organization noted that this minor increase was attributed to rising prices of vegetable oils, dairy products, and meat, although the index remains significantly lower than its peak recorded in March 2022.
The statement indicated a decline in the cereal price index of 1.5% compared to May, with notable decreases in corn prices for the second consecutive month, contrasting with a 2.3% rise in vegetable oil prices during the same period.
Global meat prices also registered a 2.1% increase, reaching a new record, driven by rising prices of beef and sheep meat, while poultry prices continued to decline.
Regarding dairy products, the FAO reported a 0.5% rise in prices in June compared to May, influenced by supply constraints in Oceania and the European Union, alongside sustained strong demand in Asia.
