FAO registers stable food prices in November | News

The Food and Agriculture Organization of the United Nations (FAO) announced this Friday that the food price index stabilized in November with a decrease in cereal tariffs, mainly linked to the extension of the maritime corridor of the sea Black.

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In this sense, the international organization specified that the food of the FAO, which follows the evolution of international prices for a basket of basic products, has fallen very slightly compared to its level in October, and is only 0.3 percent above its November 2021 level.

The agency also noted that the FAO Cereal Price Index fell 1.3 percent in November, with a decline of 2.8 percent for wheat and 1.7 percent for wheat. corn, partly as a result of the extension of the agreement on Ukrainian exports of grain from the Black Sea.



“The food price index stood at an average of 135.7 points in November 2022, virtually unchanged from October, with month-on-month declines in the price indices for cereals, dairy products, and meat, which practically offset the increases in those of vegetable oils and sugar”, said the entity.

He also added that the vegetable oil price index, on the other hand, increased 2.3 percent in November, ending seven consecutive months of decline, driven by increases in palm oil and soybeans.

According to the FAO, the forecast is two percentage points below the estimated production for 2021 and would mark a minimum of three years.