World food price index at lowest level in November: FAO

World food price index at lowest level in November: FAO

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The UN food agency’s world price index fell marginally in November, marking its eighth consecutive monthly decline since hitting a record high in March following Russia’s invasion of Ukraine.

The Food and Agriculture Organization’s (FAO) price index, which tracks the most-traded food commodities globally, averaged 135.7 points last month, down from October’s 135.9, the agency said on Friday.

The October figure was unchanged from FAO’s previous estimate.

FAO said lower readings for cereals, meat and dairy products in November were offset by higher prices for vegetable oils and sugar.

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