These are the food commodities with the highest price increases in July 2022.
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Dairy products experienced the highest price increase globally in July 2022.
The Food and Agriculture Organization (FAO) recorded that the global average dairy price index increased by 25.43% in July 2022 compared to July 2021 (year-on-year/YoY).
This means the average global dairy price increased by approximately one-quarter in the last year. This increase was the largest compared to the other four food groups.
The next largest price increase was in the sugar group, where the global price index rose by 13.12% (YoY) in July 2022.
Following this, the global price index for vegetable oils and their processed products increased by 10.05% (YoY), the meat price index increased by 8.67% (YoY), and the cereal (grain) price index increased by 3.00% (YoY) in July 2022.
Overall, the global food price index increased by 16.34% (YoY) in July 2022. However, on a monthly basis, this food price index has decreased compared to May-June 2022.
Monthly increases were experienced, among others, by palm oil, whose price began to rise as supplies decreased from major producers such as Indonesia and Malaysia.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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