NAFB News Service
The Food and Agriculture Organization of the United Nations Food Price Index averaged 126.9 points in March 2023, down 2.8 points or 2.1 percent from February.
The average marks the twelfth consecutive monthly decline since reaching its peak one year ago.
During the past twelve months since March 2022, the index has declined by 20.5 percent.
The Cereal Price Index averaged 138.6 points in March, down 5.6 percent from February and 18 percent below its one year ago.
The Vegetable Oil Price Index averaged 131.8 points in March, down three percent from February and 47.7 percent below its level a year ago.
The Dairy Price Index averaged 130.3 points in March, down 1.1 points from February and 10.7 percent lower for the year.
The Meat Price Index averaged 113.0 points, up slightly in March, but 5.3 percent lower than a year ago.
Finally, the Sugar Price Index averaged 127.0 points in March, up 1.5 percent from February, the second consecutive monthly increase, reaching its highest level since October 2016.