This month’s FAO Food Price Index is out. The index measures the monthly change in the price of food commodities around the globe. Where do global food prices stand, and which categories saw the largest gains?
The FAO Food Prince Index for October was down 0.5 percent from September, and almost 11 percent below this time last year.
Most categories were down, following a recent trend that started about a year ago. This comes with declines in sugar, cereals, vegetable oils, and meat.
Here are some key takeaways from this month’s report:
- Dairy saw an increase, up 2.2 percent, but still around 20 percent off a year ago.
- The cereal price index was down one percent.
- Vegetable oil was down to 0.7.
- Meat was down 0.6 percent, and sugar fell 2.2 percent.
Related Stories
NCBA CEO Colin Woodall says more conversations need to occur with stakeholders present surrounding President Trump’s proposal to lower consumer beef prices with Argentinian imports.
Sen. Roger Marshall: ‘I’m Begging Everyone to Take a Breath’ on High Beef Prices, New Import Markets
Sen. Roger Marshall explains which types of beef are imported into the United States, how there’s room for new imports, and logical reasons for current high prices.
The U.S. Department of Agriculture (USDA) is investing now to make markets less volatile for ranchers over the long term and more affordable for consumers, according to a press release.
