World food prices fell by 20.5% in March this year, compared to the same period in 2022, when they set a record. The information was released this Friday (7/4) by the Food and Agriculture Organization of the United Nations (FAO).

Compared to the previous month, the FAO index, which monitors the prices of a basket of basic food items, fell by 2.1% in March.

"Abundant supply, weak import demand and the extension of the Black Sea Grains Initiative (a maritime corridor that allows exports from Ukraine) contributed to the drop," the FAO said in a press release.

In its note, the FAO states that "despite the reduction in global prices, they remain very high and continue to rise in domestic markets, which poses additional problems in terms of food security".

Among the biggest price drops, the highlights are wheat (-7%), cereals (-5.6%), rice (-3.2%) and vegetable oils (-3%), which offset the increase in sugar (+1.5%).