In May, food costs decreased globally - MDD The organization voiced its alarm over the risefood costs last month. The Food and Agriculture...
In May, food costs decreased globally - MDD
The Food and Agriculture Organization of the United Nations (FAO) reported that food prices decreased in May 2023, marking the first decrease in food prices in two years.
According to the FAO's list of food prices, which records the prices of the most popular food items consumed worldwide, prices fell from 127.7 points in April to 124.3 points in May, the agency reported on Friday.
The price list is currently 22 percent, the lowest since March 2022 when the conflict between Russia and Ukraine started, and the May price is the lowest since April 2021.
It appears that the prolongation of the agreement on the transit of grain over the Black Sea from Ukraine is what caused the price of food grains on the FAO list to drop by almost 5% in May compared to the previous months.
However, the FAO reports that the shortage of exports from the nations that produce it contributed to an increase in the price of rice globally in May.
The organization voiced its alarm over the rise in food costs last month.
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