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Food Price Index of FAO fell by 2.1% in 2024
On January 4th, Jin10 Data reported that the Food and Agriculture Organization of the United Nations (FAO) released a latest report on the 3rd, which showed that due to the decline in grain and sugar prices, the average FAO food price index for 2024 was 122 points, a decrease of 2.1% from 2023. The FAO believes that the decline in the grain price index in 2024 is mainly due to the downward trend of wheat and coarse grain prices, and the decline in the sugar price index is mainly due to the fact that Brazil, a major sugar-producing country, exports a record high in 2024, and the market remains optimistic about the sugar supply prospects. The report pointed out that driven by dairy products, meat and vegetable oil prices, the FAO food price index showed a stable rise trend in most months of 2024, but it is still lower than the 2023 level as a whole. Among them, the FAO grain price index in 2024 decreased by 13.3% compared with 2023, and the sugar price index decreased by 13.2% compared with 2023.