THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Cereal, meat and sugar prices down in August, while oil and dairy prices increase…
Food prices in the world decreased 1.1% year-on-year in August and almost the same from July 2024, the UN Food and Agriculture Organization (FAO) announced on Friday.
Food prices also decreased by 24.7% from their peak levels in March 2022, the FAO added.
Cereal prices decreased by 0.5% from July and 11.9% from August 2023, FAO said, adding that global wheat export prices dropped month-on-month, reflecting a sluggish international demand and strong competition among exporters, especially from competitively priced Black Sea supplies.
Vegetable oil prices rose by 0.8% from July to the highest level since January 2023; “increase primarily reflected higher world palm oil prices, more than offsetting lower soy, sunflower and rapeseed oil quotations,” FAO said.
Dairy prices surged by 2.2% month-on-month and 14.2% from August 2023.
“International price quotations for all dairy products soared in August, with those of whole milk powder rising the most due to a surge in import demand for spot supplies and tight inventories in major producing regions,” FAO said.
Meat prices went down by 0.7% from July 2024 and 3.7% from August 2024, FAO said.
Sugar prices also decreased by 5.7% on a monthly and 23.2% on a yearly basis in August…
