The Food and Agriculture Organization of the United Nations (FAO) said world food prices fell in January, and this trend is observed for the tenth consecutive month according to the press release of the organization.
The FAO food price index in January 2023 averaged 131.2 points, down 1.1 points (0.8%) compared to December, which showed a decline for the 10th consecutive month. It is noted that the index fell by 28.6 points (17.9%) from the peak (159.7 points) reached in March 2022.
“The fall in the index in January was due to a decline in price indices for vegetable oils, dairy products and sugar, while prices for cereals and meat remained mostly stable,” the FAO noted.