World food prices edge lower in June

World food prices edged lower in June amid mixed movements across major commodity groups, the United Nations Food and Agriculture Organization said.

The FAO Food Price Index averaged 130.3 points in June, down 0.4 points, or 0.3%, from May.

The index was 1.7% higher than a year earlier but remained 18.7% below its peak reached in March 2022.

Declines in cereal, sugar and dairy prices offset increases in vegetable oils and meat.

The cereal price index fell 3.5%, driven by lower global wheat and maize prices. Sugar prices dropped 5.7%, while the dairy price index declined 1.5%.

Vegetable oil prices rose 3.8%, while the meat price index gained 0.4% and reached a new record high.

N.Tebrizli