World food prices dip 2% in 2024: FAO
The Peninsula
Paris: World food commodity prices declined by 2.1 percent in 2024 compared to the previous year, the FAO said on Friday, but they remain considerably...
Paris: World food commodity prices declined by 2.1 percent in 2024 compared to the previous year, the FAO said on Friday, but they remain considerably higher than before the Covid-19 pandemic.
The UN Food and Agriculture Organization's overall Food Price Index averaged 122.0 points -- 2.6 points or 2.1 percent lower than the average value in 2023. However, food prices increased over the course of the year, with the index climbing from 117.6 points in January to 127.0 in December.
The index rose 6.7 percent from December 2023 to 2024, with meat, dairy and food oils accounting for the increase.
The United Nations' food agency tracks monthly and global changes in the international prices of a set of globally traded commodities.
Food prices also remain considerably higher -- roughly 26 percent -- than they were five years ago.
