Data from the Food and Agriculture Organization of the United Nations (FAO) showed that global food prices rose by 2.2 percent on a year-on-year basis this past June.
The organization stated in a report that the global food commodity price index recorded a 2.2 percent annual increase amid rising energy costs and disruptions from the conflict in the Middle East, despite an agreement being reached to end the war.
On a monthly basis, the organization explained that global food prices decreased during the same month by 0.3 percent compared to this past May.
The statement quoted the Director of FAO’s Markets and Trade Division, Boubaker Ben-Belhassen, saying: “While the overall benchmark index for international food commodity prices fell slightly in June on a monthly basis, individual commodity markets continue to respond differently to changing factors.”
Ben-Belhassen added: “In a global environment with increasing uncertainty, transparent markets, real-time information, and predictable global trade remain essential elements for fostering food security and strengthening the resilience of agrifood systems.”
Despite the signs of recovery that have begun to appear in international markets, countries continue to register high inflation rates due to the ongoing fallout from the US-Israeli war on Iran.
Wafa
