dinero_admin 
The Food and Agriculture Organization of the United Nations (FAO) food price index in november 2024 reached its highest level since april 2023, averaging 127.5 points, up 0.5% from october and 5.7% compared to the same month last year. This increase was driven by higher prices for dairy products and vegetable oils, which partially offset declines in cereal, meat and sugar prices. Despite this increase, the index remains 20.4% below the all-time high recorded in march 2022.
The cereal price index decreased by 2.7% in november, averaging 111.4 points, mainly due to increased supply from ongoing harvests and improved growing conditions in several exporting countries. While corn prices remained stable, prices of other grains, such as barley and sorghum, fell slightly.
In contrast, the vegetable oil price index rose 7.5 % to 164.1 points, the highest level since july 2022. The increase was driven by concerns about lower palm oil production in Southeast Asia and strong global demand for soybean, rapeseed and sunflower oil.
Dairy products posted a moderate increase of 0.6%, averaging 139.9 points in november. The rise was led by higher milk powder prices, driven by stronger international demand and seasonally limited production in Western Europe.
As for meat, the index declined by 0.8 % month-on-month to 118.1 points. This decline was the result of a fall in pork prices, affected by weak demand in the European Union.
Finally, the sugar price index fell by 2.4 % to 126.4 points. The decrease was associated with the start of milling in India and Thailand, as well as better prospects for the next harvest in Brazil.
