# FAO Food Price Index continues to decline in January 2023 | PotatoPro

> The FAO Food Price Index averaged 131.2 points in January 2023, down 0.8% from December and marking the 10th straight monthly decline. Cereal prices were roughly stable, with maize and rice up and wheat down 2.5% as global supplies grew. Vegetable oil, dairy and sugar prices drove the overall decline.

- Date: 2023-02-04 · published 2023-02-04T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12880-fao-food-price-index-continues-to-decline-in-january-2023-potatopro
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower wheat prices and firmer maize prices shift feed grain cost relationships, while the sustained decline in vegetable oil prices eases input costs for compound feed.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-02-04 | [Another surge in the value of FAO Food Price Index in January -](https://feedsoft.ai/events/48657-another-surge-in-the-value-of-fao-food-price-index-in-january.md) | -3.1% | -3.9% |
| CORN | 2022-04-03 | [FAO Food Price Index rises to record high in February](https://feedsoft.ai/events/41782-fao-food-price-index-rises-to-record-high-in-february.md) | +5.4% | -0.7% |
| CORN | 2024-01-05 | [FAO Food Price index eased substantially in 2023](https://feedsoft.ai/events/6740-fao-food-price-index-eased-substantially-in-2023.md) | -1.5% | -2.4% |
| CORN | 2017-02-03 | [FAO Food Price Index edges higher in February](https://feedsoft.ai/events/8602-fao-food-price-index-edges-higher-in-february.md) | -1.2% | +0.6% |
| CORN | 2021-02-12 | [FAO Food Price Index rises in November](https://feedsoft.ai/events/9251-fao-food-price-index-rises-in-november.md) | -1.6% | +3.1% |
| WHEAT | 2023-08-09 | [FAO Food Price Index declines in August](https://feedsoft.ai/events/34646-fao-food-price-index-declines-in-august.md) | -1.7% | -7.8% |
| WHEAT | 2023-03-02 | [Global food prices decline further in January](https://feedsoft.ai/events/12653-global-food-prices-decline-further-in-january.md) | -2.0% | +5.1% |
| WHEAT | 2018-08-03 | [FAO Food Price Index July Falls Sharply – BE PROFY IN POTATOES NEWS](https://feedsoft.ai/events/8646-fao-food-price-index-july-falls-sharply-be-profy-in-potatoes-news.md) | +3.3% | +1.1% |

## Sources

- potatopro.com: https://www.potatopro.com/news/2023/fao-food-price-index-continues-decline-january-2023

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.