Global July Food Price Index fell sharply

The July food price index released by the United Nations Food and Agricultural Organization on the 5th was 140.9 points, a decrease of 8.6 % from June. It was the fourth consecutive month after the index reached a new high in March. Analysis of food and agricultural organizations, the grain price index fell, partly due to Russia and Ukraine reached an agreement on the foreign agricultural product transportation of Black Sea Port in July.

The food price index of food and agriculture organizes a package of international price changes in the international price of food products. It is composed of the weighted average of the price index of grains, vegetable oil, dairy products, meat, and sugar. The index rose to 159.3 points in March, the highest value since the establishment of the index in 1990.

On August 2, customers shopping in a supermarket in Frankfurt, Germany. Photo by Xinhua News Agency reporter Shan Weiyi

Although compared with the previous months, the food price index fell large in July, the index was still 13.1 % higher than the same period last year.

The price index of all 5 classification products in July fell, of which the vegetable oil price index fell 19.2 %, and the grain price index fell 11.5 %.

The grain organization says that the price index of grain has fallen, partly due to a positive response to the open food channel of the Black Sea.

On July 22, Russia and Ukraine signed relevant agreements with the United Nations on the Outreaders of the Black Sea Port, respectively, including establishing a joint coordination center in Istanbul and ensuring the safety of food transportation in Istanbul. Flowing food and fertilizer.

On August 3rd, the first grain ship "Razani" departing from the port of Odessa, Ukraine passed through the Bosptruz Strait in Istanbul, Turkey. Xinhua News Agency reporter Sadyti

After the agreement was signed, on August 1, the first grain ship departed from Odessa to Lebanon. On the 5th, the three grain vessels departed from two ports in Ukraine. The destinations were Britain, Ireland and Turkey, respectively, transporting a total of more than 58,000 tons of corn.

Maximo Torrero, chief economist of food and agriculture, said that food prices fall from high levels, but there are still many uncertainty about how the index trend develops, including global economic prospects, exchange rate fluctuations and high chemical fertilizer prices.

This is the Italian pasta shot in a supermarket in Rome, Italy on May 19. Xinhua News Agency reporter Kim Ma Mengni

Ukraine said that 20 million tons of grain remains in its territory, and it needs to be shipped out as soon as possible to make storage space for this year's grain harvest.

Russia and Ukraine are all grain exports. The Food Organization said that in the past three years, Russia and Ukraine exported wheat accounted for 30 % of the global total exports, and corn accounted for 20 % of the world. In addition, Ukraine is the country with the largest export of sunflower oil in the world, Russia ranked second.

Source: Xinhua News Agency

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