# FAO Food Price Index down again in January led by lower wheat and maize prices

> The FAO Food Price Index fell 1 percent in January 2024 to an average of 118 points, led by lower wheat and maize prices. Rice prices rose 1.2 percent on strong demand for Thai and Pakistani Indica rice and purchases by Indonesia.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7200-fao-food-price-index-down-again-in-january-led-by-lower-wheat-and-maize-prices
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Falling global wheat and maize export prices reflect larger supplies and harvest arrivals, while firmer rice demand supports rice prices.

## Read by commodity

- CORN: bearish ▼
- RICE: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-08-09 | [FAO Food Price Index declines in August](https://feedsoft.ai/events/34646-fao-food-price-index-declines-in-august.md) | -3.0% | -2.6% |
| CORN | 2025-07-07 | [FAO Food Price Index up slightly in June due to higher meat, dairy and vegetable oil prices](https://feedsoft.ai/events/23812-fao-food-price-index-up-slightly-in-june-due-to-higher-meat-dairy-and-vegetable.md) | -6.0% | -6.0% |
| CORN | 2025-04-07 | [FAO Food Price Index up slightly in June due to higher meat, dairy and vegetable oil prices](https://feedsoft.ai/events/25227-fao-food-price-index-up-slightly-in-june-due-to-higher-meat-dairy-and-vegetable.md) | +4.0% | -0.1% |
| CORN | 2025-04-04 | [FAO Food Price Index remains stable in March](https://feedsoft.ai/events/25161-fao-food-price-index-remains-stable-in-march.md) | +3.4% | +2.3% |
| CORN | 2020-03-05 | [FAO Food Price Index declined in February \| PotatoPro](https://feedsoft.ai/events/7992-fao-food-price-index-declined-in-february-potatopro.md) | +0.2% | -2.5% |
| WHEAT | 2017-04-05 | [FAO Food Price Index dips again in April, led by sugar and vegetable oils](https://feedsoft.ai/events/6872-fao-food-price-index-dips-again-in-april-led-by-sugar-and-vegetable-oils.md) | +0.4% | +4.2% |
| WHEAT | 2023-02-04 | [FAO Food Price Index continues to decline in January 2023 \| PotatoPro](https://feedsoft.ai/events/12880-fao-food-price-index-continues-to-decline-in-january-2023-potatopro.md) | +2.9% | -4.5% |
| 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% |

## Sources

- fao.org: https://www.fao.org/newsroom/detail/fao-food-price-index-down-again-in-january-led-by-lower-wheat-and-maize-prices/en

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