The FAO Food Price Index (FFPI) expanded by 1.5 points in January 2022 from December 2021, averaging 135.7 points.

The index by the Food and Agriculture Organisation of the United Nations (FAO) showed that the rebound in January was led by solid gains in vegetable oils and dairy sub-indices.

The index in January was partially offset by a decline in sugar prices for the second consecutive month. The meat and cereal sub-indices remained largely unchanged.

Following is a snapshot of the progress in the sub-indices

• The FAO Cereal Price Index averaged 140.6 points in January, up marginally (0.1 percent) from December and 15.6 points (12.5 percent) above its level one year ago.
• The FAO Vegetable Oil Price Index averaged 185.9 points in January, up 7.4 points (4.2 percent) month-on-month, marking an all-time high. The rise reflected higher quotations for palm, soy, rapeseed and sunflower-seed oil.
• The FAO Dairy Price Index averaged 132.1 points in January, up 3.1 points (2.4 percent) from December 2021, marking the fifth consecutive monthly increase, and placing the index 20.8 points (18.7 percent) above its value in the corresponding month last year.
• The FAO Meat Price Index averaged 112.6 points in January, up slightly from December 2021, and lifting the index value 16.6 points (17.3 percent) above its corresponding month a year ago.
• The FAO Sugar Price Index averaged 112.8 points in January, down 3.7 points (3.1 percent) from December, marking the second consecutive monthly decline and the lowest level in the past six months.