The FAO Food Price Index averaged 123.0 points in July 2021, down 1.2 per cent from June but still 31.0 per cent higher than its level in the same period last year.
Global food commodity prices fell in July for the second consecutive month led by cereals, vegetable oil and dairy, theFood Price Index report
“International maize prices fell by 6.0 per cent month-on-month on better yields than earlier projected in Argentina and improved production prospects in the United States of America. “By contrast, wheat quotations edged upwards in July, rising by 1.8 per cent to their highest level since mid-2014, driven by continued concerns over crop conditions in North America where persistent dryness hindered yields of durum wheat in Canada and spring wheat in the United States of America.
In the report, the FAO Vegetable Oil Price Index averaged 155.4 points in July, shedding 1.4 per cent and declining for a second consecutive month to a five-month low. The report said the FAO Sugar Price Index averaged 109.6 points in July, up 1.7 per cent from June, marking the fourth consecutive monthly increase and the highest level since March 2017.
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