OREANDA-NEWS The index of world food prices in December 2022 decreased by 1.9% compared to the previous month, amounting to 132.4 points. As the Food and Agriculture Organization of the United Nations (FAO), which tracks monthly changes in international prices for a basket of basic food products, reported on Friday, the price decline continues for the ninth month in a row, and the price index is 1% lower than its value a year earlier.

Nevertheless, the average index for 2022 was 143.7 points, which is 14.3% higher than the average for 2021.

Among the food products, the price index for which decreased in December, are cereals (-1.9%) and meat (-1.2%). This is due to the fact that good harvests in the southern hemisphere have allowed to increase wheat exports, and competition from Brazil has led to a decrease in world corn prices. The meat price index was determined by low world prices for beef and poultry.

At the same time, in December, after five months of decline, the dairy price index increased (by 1.2%), and the sugar index increased by 2.4% compared to November, mainly due to concerns about the impact of adverse weather conditions on yields in India and delays in sugar cane processing in Thailand and Australia..