Figures show a 10.7% year-on-year decline, 24% below the March 2022 peak since the Ukraine war.
The sugar index surged 9.8% in August on concerns over tighter global supply amid El Nino weather pattern worries.
The Food and Agriculture Organization’s price index, which tracks the most globally traded food commodities, averaged 121.5 points last month against a revised 121.6 for August, the agency said on Friday.The September figure was 10.7% down year-on-year and 24% below an all-time high reached in March 2022 in the wake of Russia’s invasion of Ukraine.
International wheat prices dropped 1.6%, thanks to strong supplies and good production prospects in Russia. Rice, which had rocketed almost 10% in August, dipped 0.5% last month amid low import demand, FAO said. Vegetable oil prices fell 3.9%, while dairy prices dropped 2.3% — the ninth successive monthly fall, as lacklustre global import demand and ample stocks in leading producing regions continued to weigh on the sector. Meat prices dipped 1.0%.
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