A. M. 
The Food and Agriculture Organization of the United Nations (FAO) food price index averaged 120.8 points in july 2024, slightly below its revised June figure, as a decline in the cereal price index offset increases in the price indices for vegetable oils, meat products and sugar, while the dairy price index remained virtually unchanged.
Overall, the index remained 3.1 % below its corresponding value of the previous year and 24.7 % below the peak of 160.3 points reached in march 2022. The decline in cereal prices offset the rise in vegetable oil, meat and sugar prices.
The FAO cereal price index recorded an average of 110.8 points in july, down 4.4 points from June and 15.1 points below its july 2023 value. As for vegetable oil prices, FAO placed at an average of 135.0 points in july, up 3.2 points from june, representing the second consecutive increase and the highest level in a year and a half.
The price index for dairy products registered an average of 127.7 points in july, remaining almost unchanged from june and standing 8.6 points above its year-ago value, as the decline in milk powder quotations practically offset the increase in those of butter and cheese, as for meat prices stood at an average of 119.5 points in july, that is to say, 1.5 points higher than in june, standing 1.0 point above its year-ago value.
The FAO sugar price index averaged 120.2 points in july, or 0.8 points higher than in june, representing the second consecutive monthly increase, although still 26.1 points below its year-ago value.
