Global food prices fell last month
reported by Mehr News Agency, the price index of the Food and Agriculture Organization of the United Nations, FAO, which examines the most traded food commodities in the world, in July was an average of 120.8 units, which has decreased compared to 121 in June. June’s reading was revised after initially being reported as 120.6.
The FAO cereal price index reached its lowest level in nearly four years with a decrease of 3.8 percent. Global export prices for all major grains fell for the second month in a row.
FAO said that wheat prices are due to the seasonal availability of the winter wheat harvest in the Northern Hemisphere and favorable conditions for crops. Spring wheat has decreased in Canada and America.
This report adds, corn export prices have decreased from last year’s pace with the improvement of the harvest in Argentina and Brazil, and the conditions of the crop in the United States remain strong.
Ahead of July, the FAO food price index, after hitting a 3-year low in February, fell to It had increased for 4 consecutive months. Food prices in July decreased by 3.1% compared to the level of a year ago and were 24.7% lower than their highest level in 2022.
