The Food and Agricultural Organisation (FAO) has reported prices of global food prices have fallen for the first time in June in 12 months.
FAO’s Food Price Index averaged 124.6 points in June 2021, down 2.5 percent from May, but still 33.9 percent higher than its level in the same period last year.
The decline in June marked the first drop in the Index following twelve consecutive monthly increases.
The Index tracks changes in the international prices of the most globally traded food commodities.
The drop in June reflected declines in the prices of vegetable oils, cereals and, though more moderately, dairy products, which more than offset generally higher meat and sugar quotations.
The FAO Vegetable Oil Price Index fell by 9.8 percent in the month, marking a four-month low.