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Food Prices Went Up Again in 2024 // Neutral Sentiment in Oil & Gas Industry
SUMMARY
The FAO Food Price Index stood at 127.0 points in December 2024, down 0.6 points (0.5%) from its November level.
The index stood 8.0 points (6.7%) above its corresponding level one year ago, yet remained 33.2 points (20.7%) below the peak reached in March 2022.
While the news is dominated by sky-high cocoa and coffee prices, you can clearly see from the data that on the one hand, vegetable oil prices were a primary driver of higher food prices throughout the year.
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