Muscat: The Food and Agriculture Organization of the United Nations (FAO) has reported an increase in global food prices during July, driven primarily by rising prices of cereals, sugar, and vegetable oils, while meat and dairy product prices declined.
According to Oman News Agency, the Organization indicated that the average FAO Food Price Index stood at 131.1 points in July, marking a 0.6 per cent increase compared with June. It noted that disruptions to export flows in the Black Sea region, coupled with the impact of heatwaves on crops, contributed to the upward price movement.
The Cereal Price Index rose by 3.4 per cent, driven largely by higher wheat prices amid damage to export infrastructure in the Black Sea region, as well as the effects of heatwaves on crops in several major producing countries.
The Vegetable Oil Price Index recorded a 2 per cent increase, reaching its highest level since June 2022, driven by higher palm oil and soybean oil prices.
In contrast, the Meat Price Index declined by 2.8 per cent, while the Dairy Price Index fell by 0.7 per cent.
The Sugar Price Index also rose by 5.6 per cent, influenced by concerns over the impact of hot and dry weather on crops in key producing regions.
