Global Food Prices Show a Downward Trend Over the Past Five Months

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Viva Budy Kusnandar 21/09/2022 11:00 WIB

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Global food prices fell by 13.59% between March and August 2022.

FAO World Food Price Index (Aug 2021-Aug 2022)

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FAO World Food Price Index (Aug 2021-Aug 2022)

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Global food prices have shown a downward trend over the past five months. This is evident from the Food and Agriculture Organization (FAO) food price index, which fell to 138 in August 2022 from 159.7 in March 2022.

Previously, the global food price index reached its highest level in March 2022, impacted by rising global food commodity prices. Food commodity prices continued to rise, exacerbated by the Russian military invasion of Ukraine starting on February 24, 2022.

However, starting in April 2022, average food commodity prices began to fall as several countries entered their main harvest season. Vegetable oil prices also fell after Indonesia reopened its palm oil export taps.

The global food price index from March to August 2022 has fallen by 13.59%. Vegetable oil prices experienced the steepest decline, while meat prices continued to rise.

Here's a summary of the price changes in global food prices from March to August 2022:

Food Price Index: -13.59%

* Vegetable Oils: -35.15%
* Cereals: -14.65%
* Sugar: -6.37%
* Dairy: -1.71%
* Meat: 2.85%

Editor : Annissa Mutia

"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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