World food price index eases in Dec. pushed lower by sugar

ROME — The United Nations’ (UN) world food price index dipped in December against November levels, led lower by a drop in international sugar quotations, but still showed a robust gain year-on-year, data showed on Friday.

The index, compiled by the UN Food and Agriculture Organization (FAO) to track the most globally traded food commodities, fell to 127 points last month from a slightly revised 127.6 in November.

The November figure was previously put at 127.5.

The December value was up 6.7% from 12 months previously, yet remained 20.7% below the all-time high reached in March 2022, FAO said.

For 2024 as a whole, the index averaged 122, 2.1% lower than the 2023 value, offsetting significant decreases in quotations for cereals and sugar with smaller increases in prices for vegetable oils, dairy and meats. — Reuters