World meals costs fell for a fifth straight month in January, led by declines in dairy, sugar and meat merchandise, the United Nations’ Meals and Agriculture Organisation mentioned on Friday.
The FAO’s meals value index, which tracks month-to-month adjustments in a basket of internationally traded meals commodities, averaged 123.9 factors in January, down 0.4% from December and 0.6% from a 12 months earlier, the company mentioned.
The index was 22.7% under its peak struck in March 2022 after Russia’s full-scale invasion of Ukraine.
Dairy costs confirmed the most important drop among the many most important product teams, down 5% month on month, pushed by decrease cheese and butter costs.
Meat costs slipped 0.4% as decrease pig meat costs outweighed will increase in poultry costs.
Sugar costs fell 1% from December and had been 19.2% decrease than a 12 months earlier, reflecting expectations of elevated provides.
Cereal, Vegetable Oils
Cereals and vegetable oils rose final month, nonetheless.
FAO’s cereal index edged up by 0.2% as stronger rice costs linked to firmer demand offset barely weaker quotations for different main cereals.
The vegetable oil index climbed 2.1% as greater palm, soy and sunflower oil costs outweighed decrease rapeseed oil quotations.
In a separate report, the FAO raised its estimate on 2025 world cereal manufacturing to a document 3.023 billion metric tons, citing greater wheat yields and improved maize prospects.
It additionally mentioned world cereal shares had been set to increase within the 2025/26 season, lifting the worldwide stocks-to-use ratio to 31.8%, its highest since 2001.
