This is reported by РБК-Україна referencing a publication from the UN Food and Agriculture Organization(ФАО). Reports are also coming from Контракти.UA.
"International prices for butter have shown the most significant decline, ending a 14-month streak of continuous growth due to restrained global demand and accumulated stocks," the message states.
The FAO Food Price Index stood at 127.0 points in December 2024, down 0.5% compared to the level in November.
The index is 6.7% higher than the level a year ago but remains 20.7% lower than the peak reached in March 2022 following Russia's invasion of Ukraine.
On average, the index for 2024 was 122.0 points, which is 2.1% lower than the average for 2023.
The FAO cereal price index was 111.3 points in December, unchanged from November. Prices are 9.3% lower than a year earlier. Export prices for wheat remained generally stable in December. The 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 saw a slight increase.
The FAO vegetable oils price index in December was 163.3 points, down 0.5% month-on-month, yet still 33.5% higher than a year earlier.
The FAO meat price index stood at 119.0 points in December, which is 0.4% higher than in November, marking a recovery after three months of consecutive decline. The index was 7.1% higher than the corresponding value a year ago.
The FAO dairy products price index reached 138.9 points in December, down 0.7% compared to November, marking the first decrease after seven consecutive months of growth. It remains 17.0% higher than the corresponding level a year earlier. Global prices for cheese and skim milk powder fell due to weaker international demand.
The FAO sugar price index 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 value in December 2023.
As a reminder, according to the State Statistics Service, in November 2024, butter prices increased in Ukraine by 30.7% compared to November of last year.