Global food commodity prices fell in June for the third consecutive month, the Food and Agriculture Organisation of the United Nations (FAO) has said. The index tracks the international prices of the most commonly traded food commodities. “The drop in June reflected declines in the international prices of vegetable oils, cereals and sugar, while dairy and meat prices increased,” FAO said. “In the case of rapeseed oil, besides demand rationing, international prices weakened on the imminent arrival of new crop supplies,” it said. OutlookFAO said it raised its forecast for global cereal production in 2022 by 7 million tonnes in July from the previous month and is now pegged at 2 792 million tonnes.

Source: The Guardian July 08, 2022 21:50 UTC