FAO: World food prices decline amid relief from restarted Ukraine grain exports
August 6, 2022, 7:09 am

FAO: World food prices decline amid relief from restarted Ukraine grain exports

A nurse prepares food as a mother looks on at her malnourished child in the emergency medial care section for critical care patients in the ALIMA (The Alliance for International Medical Action) managed nutrition unit of the hospital Tchad/ Chine in N'djamena, Chad on May 13, 2022. (AFP)

World food prices declined dramatically in July, according to the Rome-based United Nations Food and Agriculture Organization (FAO) on Friday, (August 5), the Xinhus reported.

The FAO said, a deal to allow grain shipments from Ukraine and adjustments to the global supply chain helped relieve some price pressure.

According to data released by the FAO, the monthly index of food commodity prices fell 8.6 percent in July, its largest one-month fall since 2008.

The decline represented the third consecutive month the index fell, though it's the first time in that period the decline was significant, according to the Xinhua.

Despite the trend from July, the index is still 5 percent higher than at the start of the year and 13 percent above levels from a year ago.

In April, the FAO index reached its highest-ever level due to increases in fuel prices, a slowdown in grain exports from Russia and Ukraine amid those countries' conflict, and other supply chain issues.

World Trade Organization: Rocketing global food prices as a result of the war in Ukraine could trigger riots from those going hungry in poor countries (File photo: Pixabay)

Every component of the index retreated in July, led by an 11.5-percent fall in prices for grains and cereals -- the largest component in the index.

FAO said that development was partially related to a key deal to unblock the main Black Sea ports in Ukraine to allow grain exports from that country, one of the world's top grain producers.

But prices for grains and cereals were still nearly 25 percent above their levels from 12 months ago.

FAO says world food prices hit an all-time high over Ukraine war

According to the FAO, prices for vegetable oil was down 19.2 percent, a ten-month low, helped by strong export quotas for Indonesian palm oil.

Dairy prices were 2.5-percent lower amid lackluster global demand, while prices for meat slipped 0.5 percent, their first decline since last year.

It is worthy to note that FAO's Food Price Index is based on worldwide prices for 23 food commodity categories covering prices for 73 different products compared to a baseline year.

Source: xinhua

Texas governor sends immigrants to New York City as immigration crisis accelerates Pelosi Taiwan trip: China halts military and climate dialogue with US

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”