Somali Magazine September 10, 2023-According to the UN Food and Agriculture Organisation (FAO), global food prices declined 2.1% month on month in August, but rice prices climbed 9.8% to a 15-year high.
Cereal prices fell 0.7%, while wheat prices fell 3.8%, due to “higher seasonal availability from ongoing harvests in several leading exporters in the northern hemisphere,” according to the FAO.
It went on to say that rice prices had risen as a result of “trade disruptions registered in the aftermath of India’s July ban on Indica white rice exports.”
Vegetable oil prices declined 3.1% due to reduced global prices for palm, sunflower, soy, and rapeseed oils.
Dairy prices fell 4% from July to August, continuing an eight-month decline.
Meat prices fell by 3% throughout the month due to decreases in all meat varieties.
Meanwhile, sugar prices increased by 1.3% last month.