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Global Food Price Index Edges Down in April

Written: 2022-05-07 14:19:02Updated: 2022-05-07 14:24:54

Global Food Price Index Edges Down in April

Photo : YONHAP News

Global food prices slightly dropped in April after hitting record levels in March due to the war in Ukraine.

According to Seoul's agriculture ministry, last month's food price index issued by the UN Food and Agriculture Organization fell zero-point-eight percent from the previous month to 158-point-five points. It marks the first decrease in four months.

By item, the price index for grains and oils slightly dipped but that of meat, dairy and sugar went up. 

Prices of wheat continued to rise in April with Ukraine's ports for outbound shipments remaining closed, but the increase was not large as exports from other countries such as India saw an uptick. 

The UN agency predicts global grain production for the period of 2021 to 2022 to rise zero-point-eight percent to reach two-point-79 billion tons. During the same period, consumption is expected to rise by zero-point-nine percent to two-point-78 billion tons.

According to the government, Korean firms have enough grain stockpiles for July to September and are working to secure more supply.

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