The index tracks the international prices of the most commonly traded food commodities.
The FAO Food Price Index averaged 127.2 points in April 2023, up 0.8 points from March and standing 31.2 points below its value in April 2022l.
In April, it said the international price quotations for pig meat rose the most on increased import purchases by Asian countries and the continued supply limitations in several leading exporters due to high production costs and animal health issues. It said the hike in prices was mostly related to heightened concerns over tighter global availability in the 2022/23 season after further downward revisions to the production forecasts for India and China, along with lower-than-earlier-expected outputs in Thailand and the European Union.
The report said the FAO Vegetable Oil Price Index averaged 130.0 points in April, down 1.8 points from March, marking the fifth consecutive monthly decline. By contrast, it said world soyoil prices continued to decrease, broadly weighed by the seasonal harvest pressure from a potentially record soybean crop in Brazil, despite sharply lower production prospects in Argentina.
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