March 13, 2024: Dairy Week in Review

Food prices are trending down, according to the latest Food Price Index (FFPI) levels reported by the Food and Agriculture Organization of the United Nations. The latest report shows the FFPI index falling 0.7 percent in February to 117.3 points, marking the eighth consecutive month of declines. The index peaked in March 2022 at 160.3 points. February 2024 is down 10.5 percent from a year ago and 17.2 percent less than February 2022. Dairy prices are bucking the trend, with FAO’s dairy price index in February up 1.1 percent from a month ago to 120 points. Still, the February price is down 13.4 percent from a year ago and down 24.1 percent from when it peaked in June 2022.

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