The United Nations World Food Price Index (WFPI) stabilized in June, data showed, with increases in vegetable oils, sugar, and dairy products offset by a decline in cereal prices.
The FAO Price Index, which tracks the world's most traded food commodities, averaged 120.6 points in June, unchanged from May. May's figure was revised from the preliminary reading of 120.4. Prior to June, the index had risen for three consecutive months after hitting a three-year low in February as food prices fell from an unprecedented peak recorded in March 2022, following Russia's invasion of Ukraine, the two largest exporters of crops.
June's reading was down 2.5 percent from a year earlier and 24.8 percent from its 2022 high.
Source (Al-Arab Newspaper of London, Edited)
