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
This year’s FAO scholarship recipients graduated in biotechnology and water management engineering
This diverse community is not only proof of the global…
Read more >FAO: Global production of major agricultural food commodities could reach new records
The latest assessment of global agricultural commodity markets by the…
Read more >Revitalizing rural areas with the help of young people
Young women and men in rural areas play an important…
Read more >Related news
Drought, technological competition and collaboration: the domestic melon season has begun
The 2025 Hungarian melon season starts amidst serious challenges: the…
Read more >Leadership change at Fornetti: Nándor Szabó is the new Managing Director
Nándor Szabó will take on the role of CEO of…
Read more >Change in Zwack management: Csaba Belovai is the new CEO of Zwack Unicum Plc.
According to the decision of the owners of Zwack Unicum…
Read more >