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LONDON : The United Nations food agency’s world price index was unchanged in November from the month before, with lower international cereal prices offset by higher prices of vegetable oils.
The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, 10.7 per cent lower than last November.
In a separate report on cereal supply and demand, the FAO raised its forecast for world cereal production this year to 2.823 billion metric tons, versus a previous estimate of 2.819 billion, and up 0.9 per cent from 2022.
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