For 2023 as a whole, the index was 13.7 percent lower than the average value over the preceding year, with only the international sugar price index higher over the period.
The FAO cereal price index increased 1.5 percent from November, as wheat, maize, rice, and barley prices all rose, partly reflecting logistical disruptions that hindered shipments from major exporting countries.
For the year as a whole, the index was 15.4 percent below the 2022 average, reflecting well supplied global markets, although FAO’s all rice price index registered a 21 percent increase.
The FAO vegetable oil price index declined by 1.4 percent from November, reflecting less purchases of palm, soy, rapeseed, and sunflower seed oil, with soy oil in particular impacted by a slowdown in demand from the biodiesel sector as well as improving weather conditions in major growing areas of Brazil. For 2023 as a whole, this index was 32.7 percent below the previous year’s level.
The FAO meat price index averaged 110.4 points in December, down by 1.1 points or one per cent.
Beef, pork and poultry prices all declined, but lamb prices increased after two months of decline.
