The Food and Agriculture Organization’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 118.5 points last month versus a slightly revised 116.1 in February.
FAO’s cereal price index fell 1.7% month on month in March, ending eight months of consecutive gains, but still 26.5% higher than the same period last month.
The meat index climbed 2.3%, but unlike all the other indices, it was still slightly down on a year-on-year basis.
Sugar prices dropped 4.0% month on month, but was still up 30% on the year.
Looking ahead, FAO said it expected global cereal production to increase for a third consecutive year in 2021.
United, Agriculture, FAO
United Nations, Rome, FAO, Asia, China, India, Europe, Brazil, South Africa