# FAO Food Price index eased substantially in 2023

> The FAO Food Price Index stood at 118.5 points in December 2023, down 1.5% month on month and 10.1% year on year, with 2023 averaging 124.0 points. The cereal index rose 1.5% in December on wheat export tensions and logistics disruptions, while rice prices climbed on Asian purchases and Indian export restrictions.

- Date: 2024-01-05 · published 2024-01-05T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6740-fao-food-price-index-eased-substantially-in-2023
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher December cereal prices reflect logistics constraints in Ukraine and Black Sea tensions, and Brazil second-crop concerns support corn. Rice tightness from export curbs keeps Asian rice prices firm.

## Read by commodity

- SBO: neutral
- CORN: bullish ▲
- RICE: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-03-12 | [FAO Food Price Index rises sharply](https://feedsoft.ai/events/54057-fao-food-price-index-rises-sharply.md) | -4.3% | -5.8% |
| WHEAT | 2021-02-12 | [FAO Food Price Index rises in November](https://feedsoft.ai/events/9251-fao-food-price-index-rises-in-november.md) | +9.9% | +9.2% |
| WHEAT | 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) | +3.8% | +2.2% |
| WHEAT | 2026-09-04 | [FAO Food Price Index rises again \| World Grain](https://feedsoft.ai/events/17533-fao-food-price-index-rises-again-world-grain.md) | +1.4% | +0.4% |
| WHEAT | 2024-01-05 | [World food price index ends 2023 some 10% below 2022 levels](https://feedsoft.ai/events/6744-world-food-price-index-ends-2023-some-10-below-2022-levels.md) | -2.2% | -2.1% |
| CORN | 2020-03-12 | [FAO Food Price Index rises sharply](https://feedsoft.ai/events/54057-fao-food-price-index-rises-sharply.md) | -7.4% | -3.7% |
| CORN | 2023-06-10 | [FAO Food Price Index unchanged in September](https://feedsoft.ai/events/6886-fao-food-price-index-unchanged-in-september.md) | +6.8% | -3.2% |
| 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% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/fao-food-price-index-eased-substantially-in-2023/

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