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The FAO Meat Price Index dropped 1.2% in December 2022.
In December, world food prices dipped for a ninth consecutive month, according to recent data from the Food and Agriculture Organization of the United Nations (FAO).
The FAO Food Price Index, which tracks monthly changes in the internationally prices of commonly-traded food commodities, was 1% below its value a year earlier.
However, for 2022 as a whole, the index was 14.3% higher than the average value of 2021.
FAO chief economist Maximo Torero says calmer food commodity prices are a welcome reprieve after two years he says were ‘very volatile’.
“It is important to remain vigilant and keep a strong focus on mitigating global food insecurity given that world food prices remain at elevated levels, with many staples near record highs, and with prices of rice increasing, and still many risks associated with future supplies,” he says.
The FAO Meat Price Index in December dropped by 1.2% from November, with lower world prices of bovine and poultry meats outweighing higher pig and ovine meat prices.
International beef prices were impacted by lacklustre global demand for medium-term supplies, while more-than-adequate export supplies pushed down poultry meat prices, the FAO states.
Pig meat prices rose off the back of strong internal holiday demand, particularly in Europe.
Meanwhile, the FAO Dairy Price Index rose 1.2% in December, following five months of consecutive declines.
The FAO claims higher international cheese prices, which reflect tightening market conditions, drove the monthly increase in the index, while international quotations for butter and milk powder declined.
The Food and Agriculture Organisation of the United Nations (FAO) has welcomed a resolution adopted by the United Nations (UN) General Assembly to declare 2026 International Year of the Woman Farmer.
The benchmark for world food commodity prices fell further in January, led by decreases in the prices for cereal and meat, says the Food and Agriculture Organization of the United Nations (FAO).
The benchmark measure of world food commodity prices ended 2023 approximately 10% lower than its year-earlier level.
The benchmark for world food commodity prices were broadly stable in November, with lower international cereal quotations offset by higher prices in vegetable oils.
The benchmark for world food commodity prices declined moderately in October, down 0.5% from September, with the index for dairy products the only one to rise, says the Food and Agriculture Organization of the United Nations (FAO).
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Horticulture NZ chief executive Nadine Tunley will step down in August.
