World food prices down by a fifth on 2022 — UN

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World food prices are still high but have fallen by a fifth compared to a year ago when prices soared to a monthly record high after Russia invaded agricultural powerhouse Ukraine, UN data showed on Friday.

Prices have fallen 20.5 percent since March last year after a 12th straight monthly drop, the Food and Agriculture Organization said.

The FAO said the fall in benchmark prices was "driven by declines in world quotations for cereals and vegetable oils." A deal negotiated by Turkey and the United Nations allows Ukraine -- one of the world's top grain producers -- to export grain through a safe corridor in the Black Sea.

 

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