PARIS (Reuters) – The Food and Agriculture Organization of the United Nations (FAO) global food price index rose in April for the second consecutive month, driven by rising prices. meat prices and slight increases in vegetable oils and cereals, despite declines in sugar and dairy products.
The FAO index, which tracks the world’s most traded food products, averaged 119.1 points in April, up from 118.8 points in March, according to the agency’s revised figures.
It is nevertheless lower by 7.4% compared to the same period of the previous year.
The indicator reached its lowest level in three years in February, with food prices having fallen since the peak reached in March 2022, at the start of Russia’s invasion of Ukraine, with the two countries being major exporters of food products.
In April, meat recorded the largest price increase, with an increase of 1.6% compared to March.
The slight decline in pork meat, affected by weak demand in Western Europe and among the main importers, notably China, could not compensate for the increase in prices of poultry, beef and mutton.
The FAO Cereals Index rose to end a three-month decline, supported by higher export prices for maize.
Vegetable oil prices also rose to their highest level in 13 months, driven by strength in sunflower and rapeseed oils.
The sugar index fell sharply, losing 4.4% compared to March and standing 14.7% below its 2023 level, due to the improving global supply outlook.
The prices of dairy products fell slightly, ending a series of six consecutive monthly increases.
(Report by Gus Trompiz; French version by Diana Mandiá, edited by Blandine Hénault)
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