World food prices remain stable in November, according to the FAO

World food prices continued to stabilize in November, with a decline in grain prices mainly linked to the extension of the Black Sea maritime corridor, the Food and Agriculture Organization of the United Nations announced on Friday.

The FAO Food Price Index, which tracks international prices for a basket of basic products, has fallen very slightly from its October level, and "it is only 0.3% above its November 2021 level".

The FAO Cereal Price Index fell 1.3% in November, with wheat down 2.8% and maize down 1.7%, "partly as a result of the extension of the agreement on Ukrainian exports of grain from the Black Sea".

The vegetable oil price index, on the other hand, "rose 2.3% in November, ending seven straight months of decline"says the FAO, driven by the increase in palm oil and soybeans.

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