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Food prices dip in May, cereal output set to decline, U.N. agency says

Posted on June 3, 2022 by Michael

By Reuters

World food prices dipped in May for a second consecutive month after hitting a record high in March, although the cost of cereals and meat both rose, the United Nations' food agency said on Friday. The Food and Agriculture Organization's (FAO) food price index https://www.fao.org/worldfoodsituation/foodpricesindex/en, which tracks the most globally traded food commodities, averaged 157.4 points last month versus 158.3 for April. Despite the monthly decline, the May index was still 22.8% higher than a year earlier, pushed up in part by concerns over the impact of the Russian invasion of Ukraine.

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