Global food prices rose 0.5% in June, driven by higher prices for meat and dairy products

Vegetable oil prices increased by 2.3% month-on-month and by 18.2% year-on-year, driven by strong demand for palm, rapeseed and soybean oils. At the same time, there was a decline in sunflower oil prices, expected due to increased production in the Black Sea region. The MEAT price index increased by 2.1% month-on-month and by 6.7% year-on-year, driven by higher prices for all types of meat except chicken. At the same time, dairy prices increased by 0.5% month-on-month and by 20.7% year-on-year. Butter showed a record price increase due to supply shortages, but dry MILK prices fell slightly due to insufficient demand. The SUGAR price index continued to decline, falling by 5.2% month-on-month, driven by improved supplies in key countries.