Global food prices declined from record highs in 2022, the UN says. Except for these two staples
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was 13.7% lower last year than the 2022 average, but its measures of sugar and rice prices growing in that time. With the exception of rice, the FAO's grain index last year was 15.4% below the 2022 average, ”reflecting well supplied global markets.” That's despite Russia pulling out of a wartime deal that allowed grain to flow from Ukraine to countries in Africa, the Middle East and Asia. Similarly, the agency's sugar index last year hit its highest level since 2011, expanding 26.7% from 2022 because of concerns about low supplies.
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