World food prices fall for second month in a row - FAO

World food commodity prices have been declining for the second month in a row.

As the Food and Agriculture Organization of the United Nations (FAO) said Thursday.

The FAO Food Price Index, which reflects monthly changes in international prices for staple foods, averaged 123.0 points in July, down 1.2% from June but up 31% from 2020. It is noted that the fall is associated with a decrease in prices for cereals, vegetable oils, as well as for dairy products.

The value of the grain price index decreased by 3%, which was caused, in particular, by the fall in “world prices for corn by 6% compared to the previous month”. At the same time, according to the FAO, wheat prices rose by 1.8% in July, reaching the highest level since mid-2014, while rice prices "reached a two-year low."

The FAO Dairy Price Index fell 2.8% from June. It is noted that the prices of skimmed milk powder , butter, whole milk powder and cheese fell the most.

The vegetable oil price index hit its lowest level in five years, down 1.4% in July from the previous month.

The Sugar Price Index rose 1.7% last month, rising for four months.

World meat prices rose slightly compared to June.

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