From avocados to coffee, some food costs are starting to ease but prices are still high

As soaring food prices wreak havoc around the world, consumers are finding some respite in cooking oil, coffee and avocados.

The data shows that the prices of those food items are starting to go down.

The prices of Indian sunflower oil and palm oil fell between May and June.

The price of palm oil in Bangladesh plummeted.

Wholesale coffee prices in Vietnam have fallen by nearly 5% in July compared to the beginning of the war in Ukraine.

On the other side of the globe, the prices of avocados from Mexico, Brazil and Argentina have fallen, according to Tridge, which has visibility of food commodities prices.

Prices of avocados from the biggest producers Mexico, Peru and Colombia have fallen, according to Tridge, an agriculture commodities data group.

Between June and July, the wholesale prices of Mexican and Colombianavocados fell.

There are other forces at play. Tridge said that the market has been slammed with an oversupply of the fruit which has caused downward pressure on prices.

Consumers are being forced to limit their consumption of some foods due to price inflation and concerns over food security.

They are being forced to tighten their belts because of the fears of a recession.

Multiple factors affect the market. Global recession fear is making the demand outlook less positive.

Consumers are spending less or looking for alternatives because of the high prices.

Some hedge funds have begun liquidating their positions in commodities.

Food inflation is not completely reined in as consumers adjust their spending.

A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022.

The prices of many agricultural products are still high despite the fact that concern for food inflation has lessened. The market is definitely affected by contractionary policies.

It hasn't reversed so hard that nobody is spending.

Demand for food is still high despite the fact that there is a shortage of food.

Some of the efforts by governments and central banks are starting to bring down food prices.

It doesn’t seem likely that food prices suddenly fall into recessionary territory. However, the likelihood of fiercer inflation has decreased.

Many products are going up in price due to supply chain disruption.

It doesn't seem likely that food prices will go into a recession. The chance of fiercer inflation has gone down.

The UN food price index fell for a third month in a row in June, off the record set in March. A basket of food commodities is tracked by the food index.

The UN's food agency said that the international prices of vegetable oils, cereals and sugar fell in June but dairy and meat prices went up.

International prices of food like wheat fell in June compared to May, but are still very high after May's near-record levels, according to the Food and Agriculture Organization. The prices are higher than they were a year ago.