FAO Reports Global Food Prices Rise in April, Cites U.S. Tariffs
(MENAFN) The United Nations Food and Agriculture Organization (FAO) announced Friday that international food costs saw an uptick in April. This rise was partially attributed to recently implemented import tariff regulations in the United States.
The FAO reported that its key Food Price Index experienced a 1 percent increase from March, fueled by higher prices in the grains and cereals, dairy, and meat sectors. This occurred despite a decrease in the cost of sugar and vegetable oils.
The organization stated that the most substantial impact of the U.S. tariff adjustments was evident in grains and cereals, which constitute the largest portion of the FAO Food Price Index. However, they also mentioned that seasonal demand, reduced wheat exports from Russia, and a weaker U.S. dollar played contributing roles.
According to the FAO's monthly analysis, "Adjustments to the United States' import tariff policies - including the exemption of Mexico, the leading importer of U.S. maize, and a 90-day suspension of tariffs above 10 percent for several other trading partners - further contributed to the upward price pressure."
In their latest analysis, the FAO pointed out that the cost of milk-based products experienced a 2.4 percent rise from the preceding month, and meat became 3.2 percent more expensive. On the other hand, the price of vegetable oils decreased by 2.3 percent, and sugar saw its price fall for the second consecutive month, registering a 3.5 percent drop since March, according to the FAO's findings.
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