ROME—World food prices fell for a third consecutive month in June, but remained close to record high levels set in March, the United Nations’ food agency said on Friday.
The May figure was previously put at 157.4.
Despite the monthly decline, the June index was still 23.1 percent higher than a year earlier, pushed up by the impact of Ukraine’s conflict, strong global demand, and high production and transport costs.
“The factors that drove global prices high in the first place are still at play,” said FAO Chief Economist Maximo Torero Cullen.
In separate cereal supply and demand estimates, the FAO raised its forecast for global cereal production in 2022 to 2.792 billion tonnes from a previously given 2.784 billion. This is still 0.6 percent short of the world output in 2021….