Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge

    July 18, 2025

    White House Says Trump Diagnosed With Chronic Venous Insufficiency

    July 18, 2025

    Tinubu Renames University Of Maiduguri After Buhari

    July 17, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge
    • White House Says Trump Diagnosed With Chronic Venous Insufficiency
    • Tinubu Renames University Of Maiduguri After Buhari
    • Dele Momodu Resigns From PDP, Joins APC
    • Otudeko Exits FirstHoldco, Sells 25 Percent Majority Stake
    • Atiku’s Departure Won’t Leave Any Dent On PDP – Makinde
    • Atiku Resigns From PDP, Says Party Deviated From Founding Principles
    • Court Frees From Fayose From N2.2bn Money Laundering Case By EFCC
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Friday, July 18
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » Global Food Prices Fall 2.1% In 2024, Still 26% Above Pre-Pandemic Levels
    2 Mins ReadJanuary 3, 2025

    Global Food Prices Fall 2.1% In 2024, Still 26% Above Pre-Pandemic Levels

    By Amina MohammedJanuary 3, 2025No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    World food commodity prices declined by 2.1 percent in 2024 compared to the previous year, the FAO said on Friday, but they remain considerably higher than before the Covid-19 pandemic.

    The UN Food and Agriculture Organization’s overall Food Price Index averaged 122.0 points — 2.6 points or 2.1 percent lower than the average value in 2023.

    However, food prices increased over the course of the year, with the index climbing from 117.6 points in January to 127.0 in December.

    The index rose 6.7 percent from December 2023 to 2024, with meat, dairy and food oils accounting for the increase.The United Nations’ food agency tracks monthly and global changes in the international prices of a set of globally traded commodities.

    Food prices also remain considerably higher — roughly 26 percent — than they were five years ago.

    The disruption to global trade during the Covid-19 pandemic initially saw food prices dip but they later climbed higher amid the surge in inflation as the global economy rebounded.

    Russia’s invasion of Ukraine in February 2022 sent them spiking to records, since both nations are major wheat exporters, but efforts to ensure shipments were not blocked led to prices easing lower until the beginning of 2024.

    The dip in the average value for the index between 2023 and 2024 was mainly due to falls in cereals and sugar prices.

    Cereals dropped 13.3 compared to 2023 and the FAO’s sugar price index fell 13.2 percent.

    The decreases were offset in part by a 9.4-percent rise in the vegetable oil price index.

    Author

    • Amina Mohammed
      Amina Mohammed

      View all posts
    FAO
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Amina Mohammed

    Related Posts

    Banking & Finance

    Banks To Report Customer Transactions That Exceed N5m – NOA

    July 9, 2025
    Banking & Finance

    Verghis Takes Over As World Bank Country Director For Nigeria

    July 4, 2025
    Banking & Finance

    FirstBank Launches Advanced Facial Recognition On Mobile App

    June 30, 2025
    Breaking News

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025
    Breaking News

    Multichoice Slashes DStv Decoder Price By 50 Percent

    June 25, 2025
    Aviation

    FCCPC Invites Air Peace Over Failure To Refund Fares For Canceled Flights

    June 16, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Prosecutor Wants Nnamdi Kanu To Open Defence in Terrorism Charge

    July 18, 2025

    White House Says Trump Diagnosed With Chronic Venous Insufficiency

    July 18, 2025

    Tinubu Renames University Of Maiduguri After Buhari

    July 17, 2025

    Dele Momodu Resigns From PDP, Joins APC

    July 17, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.