According to the FAO, the Food Price Index for 2024 stood at 122 points, 2.6 points lower than the 2023 average.
Despite a general upward trend in most food categoriesâ€"such as dairy, meat, and vegetable oilsâ€"this increase was not enough to counterbalance the declines in cereals and sugar.
The FAO Cereal Price Index saw a notable decrease of 13.3% in 2024 compared to 2023, while the Sugar Price Index dropped by 13.2% year-on-year.
The report attributes the decline in cereal prices to falling wheat and coarse grain prices, which had a major impact on the overall food price landscape.
FAO has reported 2.1% drop in global food prices for 2024.
IGIHE
Source : https://en.igihe.com/economy/article/fao-reports-2-1-drop-in-global-food-prices-for-2024
