A. M. 
The Food and Agriculture Organization of the United Nations (FAO) food price index stood at 120.7 points in august 2024, slightly below its revised July figure, as declines in the price indices for sugar, meat and cereals offset price increases for vegetable oils and dairy products.
Compared to historical levels, the august index averaged 1.1 percent below its corresponding value for the previous year and 24.7 percent below its peak of 160.3 points reached in march 2022.
The FAO vegetable oil price index averaged 136.0 points in august, a month-on-month increase of 1.0 point and its highest level since january 2023. The marginal increase was mainly due to higher world palm oil prices and more than offset declines in soybean, sunflower and rapeseed oil quotations.
Dairy products recorded an average of 130.6 points, that is, 2.8 points higher than in july, and was 16.3 points (14.2 %) above its year-ago value. The meat price index, recorded an average of 119.5 points in august, or 0.9 points lower than in july, but still 4.3 points above its corresponding value last year.
Grains recorded an average of 110.1 points, or 0.6 points lower than in july and 14.9 points below their value in august 2023. World wheat export prices declined from the previous month due to sluggish international demand and strong competition among exporters.
Finally, sugar averaged 113.9 points in august, down 5.7 points from july and 34.3 points below its value a year ago, its lowest level since october 2022.
