World food prices fell in February for an 11th consecutive month, and the Food and Agriculture Organization’s (FAO) Food Price Index is now 18.7 per cent down from its peak in March 2022, following Russia's invasion of Ukraine.
The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 129.8 points in February against 131.2 for January. It was the lowest reading since September 2021.
A monthly update from the FAO said the decline in the index reflected lower prices for vegetable oils and dairy products, which more than offset a steep rise in sugar prices.
