World food price index back at two-year low despite rice surge -FAO

A community member grabs a piece of fruit at The Community Assistance Center food pantry, in Atlanta, Georgia, U.S. April 12, 2023. REUTERS/Megan Varner

PARIS (Reuters) -The United Nations food agency's world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar.

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 121.4 points in August against a revised 124.0 for the previous month, the agency said on Friday.