The Food and Agriculture Organisation (FAO) of the United Nations has said global food prices declined for the 12th consecutive month in March.
The UN agency released its latest food price index on Friday. It said the index, which tracks international prices of the most globally traded food commodities, averaged 126.9 points last month, down 2.1 percent from February, as well as 20.5 percent below its all-time peak in March 2022.
FAO added that the decline in March 2023 was largely caused by drops in cereal, vegetable oil and dairy price indices. However, the prices of sugar and meat increased during the period, according to the report.
By contrast, poultry meat prices fell for the ninth successive month on subdued global import demand, despite supply challenges amid widespread avian influenza outbreaks in several large exporting countries.
