Global food prices continue to drop but still remain significantly higher than a year ago.
Today’s FAO Food Price Index showed a steep drop in July of nearly 9 percent, but they are still 13 percent higher on the year. The July decline was the most drastic since 2008.
Vegetable oil and cereals came down significantly. Sugar, dairy, and meat also fell, but to a lesser extent.
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For producers, demand is strong, but drought, disease, and costs still shape supply.
Farmers say weather extremes and rising costs are creating a more challenging season across Georgia peach country.
American Farm Bureau economist Bernt Nelson says consumers are still buying meat despite ongoing price pressures.
Analysts say drought, tight cattle supplies and summer grilling demand continue shaping the protein market outlook.
