Global Food Prices Drop Amid Cereal Production Surge
The FAO reported a decrease in global food prices for September, with notable declines in sugar and dairy. The Food Price Index fell to 128.8 points. Additionally, the FAO has raised its global cereal production forecast for 2025 to 2.971 billion metric tons, highlighting the largest annual increase since 2013.
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Global food prices witnessed a decline in September, primarily driven by reductions in sugar and dairy costs, according to the United Nations' Food and Agriculture Organization (FAO).
The FAO Food Price Index reported a drop from 129.7 points in August to 128.8 points in September, contrasting with an increase of 3.4% compared to last year.
Additionally, the FAO revised its global cereal production forecast for 2025 upward to 2.971 billion metric tons, indicating a 3.8% increase from 2024, marking the largest annual growth since 2013, boosted by wheat, maize, and rice prospects.
(With inputs from agencies.)
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