This is reported by RBK-Ukraine referencing a publication from the UN food agency (FAO). The information comes from Kontrakty.UA.
"International quotations for butter have shown the largest decline, ending a 14-month streak of continuous growth due to restrained global demand and accumulated stocks," the report states.
The FAO Food Price Index in December 2024 was 127.0 points, down 0.5% compared to the November level.
The index is 6.7% higher than a year ago, but remains 20.7% lower than the peak value reached in March 2022 following Russia's invasion of Ukraine.
On average, the index for 2024 stood at 122.0 points, which is 2.1% lower than the average for 2023.
The FAO index for grains was 111.3 points in December, unchanged from November. Prices are 9.3% lower than the level a year earlier. Export prices for wheat remained stable overall in December. Downward pressure from restrained international demand and higher seasonal availability from harvests in Argentina and Australia was balanced by upward pressure from poor winter crop conditions in the Russian Federation. Global corn prices rose slightly.
The FAO index for vegetable oils in December was 163.3 points, down 0.5% month-on-month, but still 33.5% higher than a year ago.
The FAO index for meat was 119.0 points in December, which is 0.4% higher than in November, indicating a recovery after three months of consecutive decline. The index was 7.1% higher than the corresponding value a year ago.
The FAO index for dairy products was 138.9 points in December, down 0.7% compared to November, marking the first decline after seven consecutive months of growth. It remains 17.0% higher than the corresponding level a year earlier. Global cheese and skimmed milk powder prices fell due to weaker international demand.
The FAO index for sugar in December was 120.0 points, which is 5.1 points lower than in November, marking the second consecutive monthly decline and 10.6% lower than the figure in December 2023.
Recall that, according to the State Statistics Service, in November 2024, butter prices increased in Ukraine by 30.7% compared to November of last year.