The Food and Agriculture Organization (FAO) has recently reported a decline in the FAO Food Price Index for 2024.
About the FAO Food Price Index:
- Objective: To monitor global agricultural commodity market developments.
- Introduction: Established in 1996.
- Measurement: Reflects monthly price changes of a basket of food commodities.
- Components: Average of five commodity group price indices weighted by average export shares from 2014-2016.
- Commodities Covered:
- Meat
- Dairy Products
- Cereals
- Vegetable Oils
- Sugar
Ref: Source
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Frequently Asked Question:
What is the FAO Food Price Index?
It is an index established in 1996 to track global agricultural commodity market developments through monthly price changes of key food commodities.
What commodities are included in the FAO Food Price Index?
The index covers five main commodities: meat, dairy products, cereals, vegetable oils, and sugar.
How is the FAO Food Price Index measured?
It reflects the average of five commodity group price indices weighted by export shares from 2014-2016.
Why was the FAO Food Price Index created?
The index was created to monitor global agricultural commodity market trends and price fluctuations.
What recent trends were reported in the FAO Food Price Index for 2024?
The FAO reported a decline in the Food Price Index for 2024, indicating lower prices for key food commodities.