In September, the FAO Food Price Index showed the largest increase in the last 1.5 years

In September, the growth of world prices for food products became the largest in the last 18 months. Thus, compared to August, the FAO Food Price Index increased by 3% to 124.4 p, which was 2.1% higher than in September 2023. Note that from March to May, food prices also increased, but the price indices remained lower than the corresponding indicators of 2023.

According to the FAO, the growth of the Food Price Index is due to a sharp increase in world sugar quotations by 10.4%.

The FAO price index for cereals rose by 3% against the background of higher export prices for wheat and corn. World wheat prices rose due to the negative impact of weather conditions on the crop in Canada and the EU, although this was partially offset by the supply of cheap grain from the Black Sea region.

The price index for vegetable oils grew by 4.6%, dairy products - by 3.8%, meat - by 0.4%.