The price of food in the world is falling sharply – But what about us? |
UNof Food and Village World food announced by the Food and Agriculture Organization (FAO). prices according to the index, the global food market has seen a sharp drop in prices for the last 4 months.
According to FAO, world food prices The index decreased by 8.6 percent last month compared to June and fell to 140.9 points.
Experts report that the food market has experienced the sharpest price drop in the last 14 years. The global price drop is more felt in cereals, vegetable oils, milk, meat and sugar products.
Cereal products fell by 11.5 percent
FAO reports that the price of grain has decreased by 11.5 percent compared to last month. During this period, the price of all grain products represented in the index decreased.
FAO reports that the price of grain has decreased by 11.5 percent compared to last month. During this period, the price of all grain products represented in the index decreased.
Falling prices of Ukraine associated with the removal of barriers to grain export and the beginning of harvesting in the Northern Hemisphere. According to the published data, the price of wheat decreased by 14.5 percent monthly.
Sugar products fell by 3.8 percent
Due to the depreciation of the Brazilian currency and higher than expected production in the country, the price index of sugar products decreased by 3.8 percent to 112.8 points on the month.
Dairy products fell by 2.5 percent
The price index of dairy products decreased by 2.5 percent to 146.4 points compared to June. The biggest decrease was observed in the prices of butter, dry, fat and skim milk.
After 6 months of price increase, the price of meat products decreased by 0.5 percent.
Vegetable oil products fell by 19.2 percent
Vegetable oil prices index decreased by 19.2 percent, 10 fell to the lowest level of the month. The sharp decrease was caused by the drop in the prices of palm, soybean, rapeseed and sunflower oils on the world market. The price of palm oil decreased in the 4th month.
It is also clear from the FAO data that there has been a noticeable decrease in the price of food products worldwide for several months. Experts do not rule out that the prices will drop a bit in the coming months.
But this depreciation Azerbaijan How will it affect the market?