NASHVILLE, TENN. (RFD-TV) — The FAO Food Price Index for November reveals global food prices are continuing a downward trend. The index fell by more than 1 percent last month, marking the third straight month of declines.
Dairy, meat, sugar, and vegetable oil indices all fell, with sugar seeing the most significant drop at nearly 6 percent.
The cereal index was the only one to gain, rising just shy of 2 percent.
The overall index remains 22 percent off the record highs we saw back in March 2022.
Related Stories
The Consumer Price Index rose 0.4 percent in August, led by higher shelter, food, and gasoline prices. Year over year, inflation is up 2.9 percent.
The Supplemental Nutrition Assistance Program (SNAP) was once again on the national stage, front and center this week before the House Agriculture Committee.
As the Trump Administration seeks out new global trade partnerships, Congress is considering more support for farmers, which comes as the Federal Reserve warns that farmers need a safety net.
Ag Secretary Brooke Rollins will travel to Europe and Asia to seek new trade partnerships for U.S. crops after China reduced imports due to tariffs.
Co-Bank Lead Dairy Economist, Corey Geiger, joined us on Friday’s Market Day Report for a further look at the drop in replacement heifers and the trend’s longterm impact on dairy producers and cattle prices.
Betsy Jibben with Ag Market Consulting takes us behind the scenes on report day with AgMarket.net.
The network includes labs across the country that track diseases like New World Screwworm, which could see a rise in cases with hurricane season approaching.
Ag Secretary Brooke Rollins made the announcement yesterday at the grand opening of a new food safety lab in Missouri, where researchers will do Listeria testing.
