The FAO food price index remained stable in June
According to the Friday report of the UN Food and Agriculture Organization (FAO), the world market index of food raw materials did not change in June, as the increase in the international quotation of vegetable oils, sugar and dairy products offset the decrease in the price of cereals.
The FAO food price index – which tracks the monthly price changes of the most important food commodities in international trade – showed an average of 120.6 points in June, which is the same as the revised May value. The index is down 2.5% from a year ago and is 24.8% below its March 2022 peak.
The FAO price index for cereals was 3.0% lower in June compared to May; quotations for cereals, wheat and rice all fell, partly due to improved production prospects in major exporting countries.
The vegetable oil price index, on the other hand, rose 3.1% in June, driven by a pick-up in global import demand for palm oil and strong demand from the Americas biofuels sector for soybean and sunflower oil.
The FAO sugar price index rose 1.9% in June after three months of decline, largely due to concerns over adverse weather and the expected impact of the monsoon, which will affect production in Brazil and India.
Dairy prices rose 1.2%, with international butter prices climbing to their highest level in two years on increased global demand for short-haul shipments, strong retail sales, seasonally declining milk production in Western Europe and the Pacific amid low stocks in its area.
Related news
FAO: The time has come to make the right to a healthy, nutritious and affordable diet a reality
The theme of this year’s World Food Day is “The…
Read more >FAO food price index mostly unchanged in July
A recent report from the Food and Agriculture Organisation of…
Read more >The FAO food price index decreased slightly in August
According to the Friday report of the UN Food and…
Read more >Related news
FAO: The time has come to make the right to a healthy, nutritious and affordable diet a reality
The theme of this year’s World Food Day is “The…
Read more >The size of the production area in the domestic tobacco sector has stabilized
The actors of the sector threw themselves into this year’s…
Read more >Online subscription loyalty schemes are about to take off in Hungary
According to a representative survey by PwC (earlier GKID) for…
Read more >