2024 Author: Jasmine Walkman | [email protected]. Last modified: 2023-12-16 08:29
In January 2016, the world food price index fell to record lows. Similar values were last observed in 2009.
According to the Food and Agriculture Organization of the United Nations, the prices of the five main products - cereals, meat, dairy products, vegetable oils and sugar - have fallen to record lows.
Their overall index fell 1.9% compared to December. The result is the lowest since April 2009.
The drop in prices is most noticeable in sugar. It is more than 4% lower than the figure in December. This is the first decline after four months of growth. It is due to the fact that a good harvest is expected in Brazil.
At the same time, the index of dairy products decreased by 3%, and that of grain and vegetable oils - by 1.7%. Meat also showed a decline of 1.1% compared to its values in December.
The drop in prices is not surprising. Basic food products are declining in value for several main reasons. In the first place, this is the abundance of agricultural goods.
This is followed by the continuing slowdown in the world economy, as well as the strengthening of the US dollar.
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