Rome: Global food prices have declined for the 12th consecutive month in March, the Food and Agriculture Organization (FAO) said, adding that it was the first time the index has fallen for a full year.
FAO’s broad Food Price Index slipped 2.1 per cent in March, and it is now down 20.5 per cent since reaching its all-time peak a year ago after a big surge following the Russia-Ukraine war, reports Xinhua news agency citing the Rome-based UN body as saying on Friday.
Grains and cereals, the largest component in the index, was down 5.6 per cent compared to the previous month and down 18.6 per cent over the last 12 months.