Global Food Commodity Prices Drop Further in April
World food commodity prices declined for the third month in a row during April, as the economic and logistical impacts of the COVID-19 pandemic resulted in significant contractions in demand for many commodities.
The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, averaged 165.5 points in April, some 3.4 percent lower than the previous month and 3 percent lower than April 2019.
The FAO Sugar Price Index hit a 13-year low, declining 14.6 percent from March, when it posted an even larger monthly drop. Collapsing international crude oil prices reduced demand for...
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