Source: APKinform (Ukraine)
In December 2024, the value of the food price index determined by analysts at the UN Food and Agriculture Organization was 127 points, down 0.6 points (0.5%) from its November value, the FAO reported.
“Declines in the price indices for sugar, dairy products, vegetable oils and cereals in December more than offset the rise in the meat price index. The index value was 8 points (by 6.7%) higher than the corresponding index of the previous year, but still 33.2 points (by 20.7%) below its peak level, recorded in March 2022. In general, the index value amounted to 122 points in 2024, which is 2.6 points (by 2.1%) lower than the average index for 2023,” the report says.
As specified, the average value of the index of prices for cereals in December remained virtually unchanged compared to the November index and amounted to 111.3 points, being 11.5 points (9.3%) below the level of December last year. In particular, world wheat prices in December were generally unchanged, while a slight increase was recorded for corn. As for other coarse grains, world barley prices rose, while sorghum prices declined.
“The vegetable price index averaged 163.3 points in December, down 0.9 points (0.5 percent) from the previous month but 33.5 percent above last December’s level. The recorded insignificant reduction was primarily due to a decrease in prices for soybean, rapeseed and sunflower oils against the background of a restrained increase in prices for palm oil,” the experts added.