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World food prices continue to fall for the fifth consecutive month: the FAO food price index, which tracks the change in international prices of a basket of basic products, is down 1.9% in August, dragged down by grain and vegetable oil prices.
After an all-time high reached in March following the invasion of Ukraine, world food prices continue to fall, with vegetable oils even falling below their level of a year ago, with -3, 3% in August. Sunflower, palm and rapeseed suffered the same fate, only soybeans increased moderately due to concerns about the impact of unfavorable weather conditions on production in the United States, underlines the FAO.
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The risks remain
As for cereals, the fall was 1.4% over one month under the effect of the fall in international wheat prices, which reflects the improvement in harvest prospects in North America and Russia as well as the recovery of exports from Black Sea ports in Ukraine.
These declines are welcome, particularly from the point of view of access to food, but the organization recalls that many risks still weigh on global food security, such as the prospects of recession in many countries or the ” High fertilizer prices and their potential impact on production and farmers’ livelihoods ».
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with AFP