Global food prices fell by 0.8% in May, according to the UN’s Food and Agriculture Organization (FAO), driven by declines in vegetable oil, cereal, and sugar prices. Despite a slight rise in meat and dairy costs, the overall index dropped to 127.7 points. The FAO forecasts record cereal production in 2025, potentially stabilizing global supply. While food prices remain higher than last year, they are significantly lower than the peak seen in March 2022 during the Ukraine war. Consumers may find some relief in this trend.
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The United Nations Food and Agriculture Organization (FAO) has reported a 0.8% decline in global food prices in May compared to April, offering some relief amid ongoing global economic pressures. This drop is primarily due to lower prices of vegetable oils, cereals, and sugar.
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