The fall was led by vegetable oil and sugar, according to details highlighted in the Food Price Index report released on Thursday.The FAO Food Price Index averaged 133.7 points in December 2021, down 0.9 per cent from November, but still up 23.1 per cent from December 2020.
“The decline was driven by weakening palm and sunflower oil prices, while soy and rapeseed oil values remained virtually unchanged month on month. “The December decline reflected concerns over the impact of the Omicron COVID-19 variant on global demand for sugar following the resumption of containment measures in many regions.
In the report, the FAO Cereal Price Index averaged 140.5 points in December, down 0.6 per cent from November. “For 2021 as a whole, the FAO Cereal Price Index averaged 131.2 points, up 27.2 per cent from 2020 and the highest annual average registered since 2012. The report said the FAO Dairy Price Index averaged 128.2 points in December, up 1.8 per cent from November and 17.4 per cent above its December 2020 value.
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