After having already fallen by 13.7% in 2023, global food prices lost an additional 1% in January, driven by lower prices for cereals and meat.
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A downward trend which is confirmed. World food prices, after having lost 13.7% in 2023, fell further in January due to the fall in the prices of cereals and meat, the United Nations announced on Friday February 2. Food and Agriculture (FAO). The food price index calculated by the FAO, which tracks the variation in international prices of a basket of basic products, fell by 1% compared to December. Over one year, compared to January 2023, it fell by 10.4%.
It was weighed down in particular by wheat, with the prices of bread cereal falling under the effect of strong competition between exporting countries and the arrival of the harvest in the southern hemisphere. The cost of but also fell, with the start of the harvest in Argentina and larger than expected stocks in the United States. The cereal price index lost 2.2% in January, while that of meat fell for the seventh consecutive month, by 1.4%. “The abundance of supply from the main exporting countries has reduced international prices for poultry, cattle and pig meat”notes the FAO.
