BREAKING NEWS

Vegetable oil, maize prices slightly fall after recent surge: FAO

World food commodity prices decreased in April after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, the Food and Agriculture Organization (FAO) of the UN said on Friday.

The FAO Food Price Index averaged 158.5 points in April 2022, down 0.8 per cent from the all-time high reached in March.

The Index, which tracks monthly changes in the international prices of a basket of commonly-traded food commodities, remained 29.8 per cent higher than in April 2021.

The FAO Vegetable Oil Price Index decreased by 5.7 per cent in April, shedding almost a third of the increase registered in March, as demand rationing pushed down prices for palm, sunflower and soy oils.

Uncertainties about export availabilities out of Indonesia, the world's leading palm oil exporter, contained further declines in international prices.

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