FAO's report for October shows global food prices falling

Wednesday, November 8, 2023

The Food and Agriculture Organization (FAO)"s price index, which covers the world's most traded food commodities, fell in October to its lowest score in more than two years, driven by declines in sugar, cereals, plant oils and meat.

The Food and Agricultural Organization of the United Nations (FAO) said its food price index had fallen in October to its lowest level in more than two years.

The October value was the lowest since March 2021.

Similarly, the FAO grain price index also dropped to an average of 125.0, a decline of 1.3 points on September.

In its separate report on grain supply and demand, the FAO held its forecast for world cereal production for the year at 2.819 billion tonnes, up 0.9% on 2008.