FAO, food prices -0.7% in February, seventh consecutive decline. The lower international prices for all the main cereals, in fact, more than offset the increase in sugar and meat.
According to the FAO, preliminary forecasts for global wheat production in 2024 are at 797 million tonnes, an increase of 1% compared to 2023. Lower wheat prices have caused a 6% year-on-year decline in wheatProduction in North America, where production may increase, however.