Connect with us

Hi, what are you looking for?

Europe

World food prices drop slightly from record high

Global food prices declined in July, but are still much higher than this time last year, the U.N.’s Food and Agriculture Organization said Friday.

After hitting an all-time high in the immediate aftermath of Russia’s invasion of Ukraine in February, food prices have been slowly coming down since. In July, the FAO’s food price index recorded its steepest drop since prices started falling, losing 8.6 percent compared to June, with the cost of vegetable oils, cereals, sugar, meat and dairy all falling.

Prices also dipped slightly after the announcement of a U.N.-led agreement to protect Ukraine’s Black Sea grain exports late last month. The FAO said the Black Sea agreement has contributed to wheat prices dropping 14.5 percent, while prices for all cereals dropped 11.5 percent between June and July. However, cereals prices remain some 17 percent higher than they were this time last year, and wheat prices in particular are some 25 percent higher.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Europe

Ivor Ichikowitz is an industrialist and philanthropist. He is the chair of the Ichikowitz Family Foundation, which paid for the installation of the Mandela...

Europe

During a phone call on Friday, Emmanuel Macron and Vladimir Putin agreed that a team from the International Atomic Energy Agency (IAEA) should be...

Europe

Replacing Starbucks in Moscow is a tall order, but two Russian entrepreneurs are giving it a go. “Stars Coffee,” a copycat chain created to...

Europe

Press play to listen to this article Cyprus and Greece are rallying behind Germany in opposing a block on visas for Russian tourists wanting...

Europe

The European Medicines Agency has given the green light for countries to carry out a dose-sparing strategy as limited supplies of the monkeypox vaccine...

Europe

Research groups and laboratories investigating what killed thousands of fish in the Oder River running between Poland and Germany are pointing at algae toxins....

Europe

Finland’s Prime Minister Sanna Marin said Friday that she took a drug test, after the publication this week of a leaked video of her...

Energy

Germany should allow the blocked Nord Stream 2 pipeline to begin pumping Russian natural gas so “people do not have to freeze in winter...