2023-11-03 11:49:03
Paris (awp/afp) – World food prices fell for the third consecutive month in October, driven down in particular by rice, wheat, sugar and pork, the United Nations said on Friday. for Food and Agriculture (FAO).
The FAO Food Price Index, which tracks the variation in international prices of a basket of commodities, fell by 0.5% compared to September. It shows a decline of 10.9% over one year.
The cereal price index fell by 1%.
It was weighed down by the prices of wheat (-1.9%), more abundant than expected in the United States, and by the prices of rice (-2%), with import demand showing “generally sluggish in October” .
Rice reached its highest level in 15 years in August, jumping nearly 10% over one month following restrictions imposed by India on its exports.
The vegetable oil price index fell 0.7%, with palm oil prices falling particularly as production reached a seasonal peak in major supplier countries.
On the meat side, the index fell by 0.6%, mainly due to the decline in pork prices.
The prices of poultry meat rebounded slightly, “because the avian flu epidemics continued to weigh on the supply of several major global suppliers, in a context of strong demand from consumers”, fond of this more economical product than other meats, underlines the FAO.
The sugar price index, which reached its highest level in 13 years in September due to concerns regarding the impact of El Niño on harvests in Thailand and India, fell by 2.2 %.
The dairy product price index increased in October (+2.2%), following nine consecutive months of declines, with milk powder benefiting from strong demand, particularly in Northeast Asia. This index remains 20.1% lower than its October 2022 level.
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