ROME (Reuters) – Global food prices fell in May for the second month in a row, after hitting a record high in March, although cereals and meat saw their costs rise, the government said on Friday. United Nations food agency.
The UN Food and Agriculture Organization’s (FAO) food price index, which tracks the world’s most traded food commodities, averaged 157.4 points in May , compared to 158.3 in April.
Despite the monthly decline, May’s index was still 22.8% higher than a year earlier, pushed up in part by concerns about the impact of the Russian invasion of Ukraine.
Global cereal production is expected to continue to decline in the 2022/23 season for the first time in four years, falling by 16 million tonnes, to 2.784 billion tonnes, according to FAO estimates.
While the price indices for dairy products, sugar and vegetable oils all fell last month, those for meat and cereals rose to record highs and a 2.2% rise respectively.
The wheat index follows the same dynamic, posting a gain of 5.6% in May and an annual increase in its prices of 56.2%, due to India’s announcement of an export ban. , as well as reduced production prospects in Ukraine following the Russian invasion, FAO said.
(Report Crispian Balmer; French version Alizée Degorce, edited by Kate Entringer)
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