Commodities Buzz: FAO Food Price Index Marks Fourth Consecutive Monthly Decline

9 Aug 2022 , 12:03 PM

The FAO Food Price Index (FFPI) averaged 140.9 points in July 2022, down 13.3 points (8.6 percent) from June, marking the fourth consecutive monthly decline. Nevertheless, it remained 16.4 points (13.1 percent) above its value in the corresponding month last year. The July decline was the steepest monthly fall in the value of the index since October 2008, led by significant drops in vegetable oil and cereal indices, while those of sugar, dairy and meat also fell but to a lesser extent. The FAO Cereal Price Index averaged 147.3 points in July following a fall of 19.1 points (11.5 percent) from June, but remained 21.0 points (16.6 percent) above its July 2021 value. The FAO Vegetable Oil Price Index averaged 171.1 points in July, down 40.7 points (19.2 percent) and marking a 10-month low. The FAO Dairy Price Index averaged 146.4 points in July, down 3.8 points (2.5 percent) from June, but still 29.7 points (25.4 percent) above its value in July of last year. The FAO Sugar Price Index averaged 112.8 points in July, down 4.4 points (3.8 percent) from June, marking the third consecutive monthly decline and reaching a five-month low.Powered by Commodity Insights