The United Kingdom, the United States, and China remain the three main destinations for the EU export of agri-food products. There has been a decline in imported oilseeds and protein crops, as well as in vegetable crops, both in prices and volumes. The import decreases in 2023 were particularly notable from Brazil, Argentina, Australia, China, and Indonesia.
According to the Food and Agriculture Organization (FAO) of the United Nations (UN), global prices for food commodities were ten percent lower last month than a year ago.
The FAO Food Price Index tracks monthly changes in the prices of a range of globally traded food commodities and stood at 118.5 points last month, down one and a half percent compared to the previous month.
For the year 2023 as a whole, the index was 13.7% lower than the average value for the previous year.
The FAO cereal price index rose by 1.5%, while prices for wheat, maize, rice, and barley increased slightly, partly due to disrupted exports from Ukraine and Russia.
The FAO meat price index fell by 1.8% compared to November, influenced by persistently weak import demand for pork from Asia.
The FAO dairy price index rose by 1.6% in December compared to November, mainly due to higher prices for butter and cheese, supported by large purchases in Western Europe ahead of Christmas. At the same time, strong global demand for whole milk powders caused prices to rise.