In April of the current year, the average value of the FAO Food Price Index (FPI) was 158.5 points, which is 1.2 points (0.8 percent) lower than the previous record level registered in March. However, this value was higher by 36.4 points (29.8 percent) compared to the April figure of the previous year. The drop in the FPI in April was mainly due to a significant decrease in vegetable oil prices, as well as a slight decrease in grain prices. At the same time, prices for sugar, meat, and dairy products continued to rise moderately.
In April, the average value of the FAO Sugar Price Index was 121.8 points, which is 3.9 points (3.3 percent) higher than the level in March. This index has been rising for the second consecutive month, and as a result, its value is more than 20 percent higher than in April of the previous year. The increase in world sugar prices continues to contribute to the rise in ethanol prices in Brazil and the strengthening of the Brazilian real against the US dollar. Issues with slow sugarcane harvesting in Brazil at the outset also had an impact. A larger-than-expected supply of sugar from India, one of the largest exporters, improved global forecasts and prevented a significant increase in prices.
