SAFAKNA TURKEY – World food prices fell 1.9% in December, their ninth month of decline. However, for all of 2022, the figure is up 14.3 percent from its 2021 average. In 2022, the average value of the index for 12 months was 143.7 points.
The World Food Price Index, which tracks monthly changes in the prices of grains, oilseeds, dairy products, meat and sugar compiled by the Food and Agriculture Organization of the United Nations (FAO), fell to 132.4 in December from a revised level of 135 in December. November. The food price index for November was announced at 135.7.
The world food price index rose by 14.3 percent in 2022 compared to 2021.
MILITARY PRICES INCREASED
Since Russia’s invasion of Ukraine in February last year, global food prices rose on fears of black sea supply disruptions, but fell on support for a grain corridor agreement signed between the United Nations, Ukraine, Turkey and Russia.
World prices for wheat and corn reached record levels during the year. The FAO Vegetable Oil Price Index average for all of 2022 broke records, while the FAO Dairy Price Index and Meat Price Index reached their highest levels since 1990.
“NEED TO BE CAREFUL”
“After two very volatile years, we welcome calmer food prices,” said Maximo Torero, FAO Chief Economist. “With global food prices remaining high and prices for many essential commodities close to record levels, it is important to remain vigilant and focus on addressing global food security,” Torero said.
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