FAO Reports 13.7% Drop in World Food Prices in 2023

World food prices experienced a significant decrease in 2023, dropping by 13.7% compared to the previous year.
According to Africa New Agency, this decline was observed despite a slight increase in cereal prices in December. The FAO highlighted that the overall food price index concluded the year approximately 10% lower than its level in the preceding year, with notable decreases in the costs of vegetable oils and cereals.