2024 Author: Jasmine Walkman | [email protected]. Last modified: 2023-12-16 08:29
Lower prices of food products were registered in August this year, according to analyzes by the Food and Agriculture Organization of the United Nations.
After a three-month increase in food, which was reported at the beginning of the year, there is now a decline in both wholesale and retail values worldwide.
The values of cereals have decreased most significantly, and this trend is expected to continue in the coming months.
According to the price index, a decrease is also observed in dairy, meat products and sugar. Compared to the beginning of the year, sugar values have fallen by 1.3%, but still remain higher compared to the same period last year.
Cereals fell by 5.4%, with wheat prices being the lowest. This is largely due to the improvement of the forecasts for a good harvest in the Black Sea region, SinorBg notes.
There was a smaller decrease in meat products, whose values fell by 1.2% due to the rich production from Brazil, Thailand and India.
The weaker demand for meat in India and China after the introduction of higher import duties for both countries also played a significant role in this regard.
For oilseeds, the price index rose by 2.5%. Palm, soybean, rapeseed and sunflower oil have risen the most.
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