January 27, 2023

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Global food prices fell for the ninth month in a row. This is the value of the FAO indicator in December 2022

The level of 132.4 points reached by the FAO index in December 2022 was already lower than it was in December 2021. Then, its value reached 133.7 points. “The decline in the index in December was driven by a sharp decline in the prices of vegetable oils, as well as some decline in the prices of cereals and meat. It was partially offset by moderate increases in the prices of sugar and dairy,” he added. – FAO’s comments on the latest results.

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The record was broken in March

This is the ninth consecutive drop in the index. It achieved a record score after the start of the Russian invasion of Ukraine in March 2022 – then it reached 159.7 points.

The FAO Food Price Index is a measure of monthly changes in the international prices of a basket of food commodities and has been recorded since 2004. It is an average of the following price indices: meat, dairy products, cereals, vegetable oils and sugar weighted by average export shares for each group in 2014-2016.

In Poland, food is still more expensive

Despite the lower value of the FAO index, experts expect it Food prices in Poland will not stop and will continue to rise. Data collected by the “Rzeczpospolita” from research companies, retail chains and industry associations show that dairy products and vegetable fats It may increase by at least 20-30% this year. Slightly less bread, meat and spirits. The cheapest vodka will cost around PLN 30 for a pint.

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In addition, the hikes will not overlook vegetables and fruits. Especially imported ones. a. Konrad Raczkowski, Director of the UKSW Center for the World Economy, That’s right Such large jumps in prices are not expected, as happened in 2022.but this is due to the fact that the food is already very expensive.

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