Data on the UN Food and Agriculture Organization (FAO) food price index shows that average prices have dropped 3.4% in April 2020, marking the the third month in a row where prices have dropped and the lowest value for over 12 months.
While average prices have dropped overall, there are exceptions, such as rice, which has seen export restrictions and logistical bottlenecks which resulted in a 7.2% price increase. Sugar prices saw the largest drop of 14.6% due to the oil price crash. Sugarcane is used in ethanol production, however low oil prices meant that more crop was diverted to sugar production instead.
For more information and the full dataset visit http://www.fao.org/worldfoodsituation/foodpricesindex/en/
