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FAO: Global Food Price Index down slightly

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Al-Anbat -

Al -Anbat - Lima Zeitawi

The Food and Agriculture Organization of the United Nations (FAO) World Food Price Index fell slightly in November, marking the eighth consecutive month of decline since a record high in March following Russian military operations in Ukraine.

The Food Price Index, which measures the world's most traded food commodities, averaged 135.7 points last month, down from 135.9 points in October, the FAO said in a statement on Friday. The October figure was consistent with the previous estimate of the Food and Agriculture Organization, according to CNBC.

 The Organization indicated that the lower readings of cereals, meat and dairy products in November were offset by higher prices for vegetable oils and sugar.

The extension of a U.N.-brokered deal to export grain from Ukraine for another 120 days last month helped ease concerns about the war disrupting massive trade across the Black Sea.

According to the Organization, the slight decline in November means the FAO Food Price Index is now just 0.3 percent above its level a year ago.
 
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