• Skip to main content
  • Skip to primary sidebar

UN Food and Agriculture Organization reports global food price reduction

Asia Food Journal
  • Home
  • Latest News
  • Channels
    • Packaging
    • Processing
    • Ingredients
    • Industry
    • Automation
    • Guest Posts
    • Market Trends
  • Subscribe
  • Advertise
  • Event Calendar
  • Contact Us
    • Submit Guest Posts
Share
Leaderboard of Asia Food Journal




UN Food and Agriculture Organization reports global food price reduction

July 15, 2022 by Asia Food Journal

global food price reduction

Courtesy of Laura James/Pexels

Worldwide food prices continued to fall for three straight months, according to the latest United Nations Food and Agriculture Organization (FAO).

Global food prices reached historic highs in March, but the recent report from the UN FAO show improvements. While still above the past year’s data, the FAO food price index, which tracks the changes in the basket of food commodity prices, fell by 2.3 percent in June compared to May. 

Leaderboard of Asia Food Journal

The drop in prices was stirred by an overall reduction in the international prices of cereals, vegetable oils, and sugar. Notably, costs of the said items remain higher by 23.1 percent than in the past year. 

Compared to last month, wheat prices dropped by 5.7 percent but remained up by 49 percent compared to last year. Sugar and vegetable prices also showed a continuous decline in prices compared to May’s numbers. However, meat prices were higher, showing an increase of 1.7 percent from May, and 13 percent from last year.

An analyst from Nomura shares that Asian countries like South Korea, the Philippines, Singapore, and India will see more food price increases by the second half of this year, with peak prices hitting this month until September. 

Chief economist for India and Asia (ex-Japan) at the Japanese bank shared with CNBC that food price changes in Asia are delayed compared to global movements since most governments tend to subsidize and place price controls to manage price increases. 

Varma and her team shared that more than 2 percent of the gross domestic product in the Philippines are net food imports, making it the second highest in Asia (ex-Japan). Singapore and South Korea are at risk as both countries have high food importation rates. 

Other Topics: food commodity prices, Food price index, Global food prices, market insights

Related Articles

  • stabilising systems

    Courtesy of Hydrosol

    Economical stabilising systems assist food manufacturers  
Leaderboard of Asia Food Journal

Primary Sidebar

Stay Connected

Your browser does not support the video tag. Learn More




🔥 Trending News

Blue Bottle Coffee announces opening of first Southeast Asian outlet in LUMINE
Farmlore in Bengaluru is unveiled as the winner of the American Express One to
Syensqo achieves breakthrough in mechanical recycling of PVDC multilayer
Blue Bottle Coffee announces opening of first Southeast Asian outlet in LUMINE

Trending News

Subsribe to Our News Letter

Subscribe To
Our Newsletter


By submitting this form, you consent to receive marketing emails from Asia Food Journal. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

© 2025 Harvest Information. All rights reserved. Privacy Policy.

Become an F&B industry insider

Your go-to resource for all the latest trends, innovations, and news about the food and beverage industry!

 

By submitting this form, you consent to receive marketing emails from Asia Food Journal. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

Disclaimer: Translations on this website are automated using Google Translate. While we strive for accuracy, please be cautious, as machine translations may contain errors. For critical or sensitive content, consider seeking professional human translation. We are not liable for any reliance on the translated content.