Food prices ease slightly in April after record surge, UN agency says

ROME: World meals costs eased barely in April after hitting a document excessive in March, however world meals safety remained a priority due to the troublesome market circumstances, UN meals company mentioned on Friday (Might 6).

The Meals and Agriculture Group’s (FAO) meals worth index, which tracks probably the most globally traded meals commodities, averaged 158.5 factors final month versus an upwardly revised 159.7 for March.

The March determine was beforehand put at 159.3.

“The small lower within the index is a welcome reduction, notably for low-income food-deficit international locations, however nonetheless meals costs stay near their latest highs, reflecting persistent market tightness and posing a problem to world meals safety for probably the most susceptible,” mentioned FAO Chief Economist Maximo Torero Cullen.

Though it declined month-on-month, the April index was 29.8 per cent larger than a yr earlier, pushed up partly by considerations over the influence of the Russian invasion of Ukraine.

The company’s cereal worth index fell 0.7 per cent in April after a 17 per cent bounce in March. Whereas maize costs dropped 3.0 per cent, wheat costs rose 0.2 per cent.

FAO mentioned wheat was hit by the blockage of ports in Ukraine and worries over crop circumstances in america. Nevertheless, these considerations have been partially offset by bigger shipments from India and higher-than-expected exports from Russia.

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