World food prices were still high but had fallen by a fifth compared to a year ago when prices had soared to a monthly record high after Russia had invaded agricultural powerhouse Ukraine, UN data showed on Friday.

Prices had fallen by 20.5 per cent since March last year after a 12^th straight monthly drop, the Food and Agriculture Organization (FAO) had said. 

But in releasing its latest data tracking monthly changes in international prices of a basket of food commodities, the FAO said that food remained expensive notably for developing countries highly dependent on imports. 

The FAO said that the fall in benchmark prices was “driven by declines in world quotations for cereals and vegetable oils”. 

The UN agency added: “A mix of ample supplies, subdued import demand and the extension of the Black Sea Grain Initiative contributed to the drop.” 

A deal negotiated by Turkey and the United Nations allows Ukraine -- one of the world's top grain producers -- to export grain through a safe corridor in the Black Sea. 

It was agreed after the Russian invasion in February 2022 blocked hd 20 million tonnes of its grains in port. 

The FAO index averaged 126.9 points, down 2.1 per cent from the end of February and down by 20.5 per cent since March 2022.