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FAO announces global food price developments

The Food and Agriculture Organization of the United Nations, “FAO,” announced that global food prices fell “modestly” last May, for the second month in a row, with the exception of wheat and poultry meat prices, which are still rising.

 In its monthly report, the organization said that “which showed that the average FAO food index recorded 157.4 points in May 2022, down 0.6 percent on a monthly basis.”

 This indicator follows the monthly changes in the international prices of a basket of traded food commodities, remaining 22.8 percent higher than it was in May 2021.

 In parallel, the FAO grain price index rose by 2.2 percent on a monthly basis, led by wheat prices, which increased by 5.6 percent, and by 56.2% on an annual basis.

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