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Food prices have been falling in the world market for 7 consecutive months

Afroza Hossain

FAO has been using a global index since 1962 to analyze global food markets.

As of last February, the United Nations has said that the price of food products has continued to decrease in the world market for more than 7 consecutive months. The Food and Agricultural Organization (FAO), the food and agricultural security body of the global organization, said this information in a statement on Friday.

FAO has been using a global index since 1962 to analyze global food markets. Analyzing the index, it was found that the average price of all food products decreased by 9.9 percent in February compared to last January.

FAO said in a statement on Friday that global food prices have started to fall since July 2023, and milk and milk products prices have fallen by 13.4 percent, edible oil prices by 11 percent and meat prices by 10.8 percent in the last seven months as of February.

However, the prices of various food products have decreased, but the price of sugar has increased. According to the FAO index, the price of sugar in the world market has increased by 12 percent in the last seven months.

FAO said in a statement on Friday that food prices in the world market increased in 2021-22 due to the Corona epidemic, the Russia-Ukraine war and natural disasters in different regions of the world. The downward trend that has started now is expected to continue unless there is a major global catastrophe.

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