© Reuters. FILE PHOTO: Combines harvest wheat in a subject within the Rostov Area, Russia July 7, 2022. REUTERS/Sergey Pivovarov
PARIS (Reuters) – World meals costs eased in December marking the ninth consecutive month-to-month fall, however gained greater than 14% in 2022 in comparison with the earlier yr, to succeed in the best since information started, the U.N. meals company mentioned on Friday.
The Meals and Agriculture Group’s (FAO) meals value index, which tracks worldwide costs of probably the most globally traded meals commodities, averaged 132.4 factors final month in contrast with a revised 135.00 factors for November.
The November determine was beforehand given as 135.7 factors.
For 2022 as a complete, the benchmark index averaged 143.7 factors, up 18 factors or 14.3% from 2021, and the best since information began in 1990.
The decline within the index in December was pushed by a steep drop within the worldwide value of vegetable oils, along with some declines in cereal and meat costs, however mitigated by slight will increase in these of sugar and dairy, the FAO mentioned.
Meals costs surged after Russia’s invasion of Ukraine in February final yr on fears of disruptions to Black Sea commerce. They’ve pared good points partly due to a U.N.-backed grain export channel from Ukraine.
The FAO mentioned final yr that meals import prices in 2022 would lead the poorest nations to chop again on shipped volumes.
Its meals value index includes the common of its meat, dairy, cereals, vegetable oils and sugar value indices, weighted to the common export shares of every of the teams for 2014-2016, it mentioned.
