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The benchmark index of international food commodity prices declined in February for the eleventh consecutive month, albeit only marginally, reports NaijaAgroNet.This revelation was made by the Food and Agriculture Organization of the United Nations (FAO) in its latest report on food price index, saying that it averaged 129.8 points in February, a marginal 0.6-percent decrease from January but 18.7 percent down from its peak in March 2022.
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Showing posts with label Index. Show all posts
Showing posts with label Index. Show all posts
Tuesday, March 7, 2023
Monday, May 7, 2018
Cereal price index rises to 1.7%
The Food and Agriculture Organisation (FAO) Cereal
Price Index rose 1.7 percent in April, its fourth consecutive monthly increase,
and is now 15.4 percent above its value a year earlier, reports NaijaAgroNet.
Wheat prices NaijaAgroNet were supported by weather-related risks in the
United States, while drought-reduced production in Argentina and lower
plantings in the U.S. pushed up international maize prices. Rice prices also
rose.
The FAO Dairy Price Index rose 3.4 percent from March,
reflecting robust demand for all milk products and apprehensions about export
availabilities in New Zealand.
The FAO Food Price Index is a measure of the monthly change in
international prices of a basket of food commodities.
Declines were posted in April on the three other sub-indices.
The FAO Vegetable Oil Price Index declined by 1.4 percent since March, while
the FAO Meat Price Index fell 0.9 percent.
The FAO Sugar Price Index fell 4.8 percent in April from the
previous month, continuing a decline that began last December, and averaging 24
percent lower than April 2017. Lower prices reflected a supply glut buoyed by
record outputs in Thailand and in India, the world's second-largest sugar
producer, as well as the depreciation of the Real, the currency of Brazil, the
world's largest producer.
Isaac Oyimah/GEE
Tuesday, September 12, 2017
Food Price Index dips 1.3% in August
The global
food prices have dipped in month of August as a result of prospect from bumper
cereal harvests expected for larger grain inventories, reports NaijaAgroNet.
The Food and Agriculture Organisation (FAO) Food Price Index made
available to NaijaAgroNet,
indicated a decline of 1.3 per cent from July assessment, thus averaging 176.6
points in August.
The drop, NaijaAgroNet reported, was largely
driven by a 5.4 per cent decline in the FAO Cereal Price Index, reflecting a
sharp fall in wheat prices as the outlook for production in the Black Sea
region improved.
FAO raised its forecast for global cereal
production to 2 611 million tonnes, an all-time record. Worldwide stocks of
cereals are also expected to reach an all-time high by the close of seasons in
2018, according to the latest FAO Cereal Supply and Demand Brief, also
released recently.
Isaac Oyimah/GEE
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Tuesday, January 24, 2017
NEPAD set to launch hunger, nutrition commitment index
The stage is set for the formal launch of the Hunger and
Nutrition Commitment Index (HANCI) for Africa by the New Partnership for Africa’s
Development (NEPAD) and partners, reports NaijaAgroNet.
The Senior Communications Officer at the New Partnership for
Africa’s Development (NEPAD), Ms Mwanja Ng'anjo, disclosed this to NaijaAgroNet, saying that NEPAD is partnership with the Institute of
Development Studies on this project.
She also said that HANCI-Africa measures countries’ efforts
to deliver on the African Union Malabo Declaration commitments of 2014 and
other international commitments.
“It measures the efforts that 45 African governments
undertake in terms of law, policy and spending, and identifies what they do
well and where they need to go further in addressing hunger and undernutrition,”
she said.
As said by her, through publicly available evidence,
HANCI-Africa seeks to empower stakeholders to hold one another accountable,
stressing that all is set for the launch this Thursday in Midrand, South
Africa.
During the launch, Nganjo said, HANCI-Africa will be
presented as a tool for advocacy, commitment monitoring and accountability.
In addition, she said, discussions will also centre on how
the African Union, NEPAD, national governments, regional authorities and
stakeholders can adopt, adapt, own and sustainably use the HANCI-Africa for
monitoring the Malabo Declaration and other commitments towards addressing
hunger and malnutrition.
Isaac Oyimah/GEE
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Thursday, May 21, 2015
2/3 countries improve on food security - EIU
World leader in global business intelligence, the Economist Intelligence
Unit (EIU) in its Global Food Security Index (GFSI) annual update,Expo Milan
2015, revealed that two-thirds of 109 countries have improved in food security,
reportsNaijaAgroNet.
The GFSI overall
results, NaijaAgroNet gathered was unveiled
at the DuPoint Forum on Food and Agriculture tagged; Rural and Urban
Innovations, showed that sustained economic expansion in
most regions and rapid growth in developing countries, especially in
Sub-Saharan Africa, combined with lower global food prices provided the
necessary food security improvement in almost every region of the world over
the past year.
It further revealed that food security
in Sub-Saharan Africa (SSA)improved in 28 countries in the region, with 82
percent recorded score increases between 2014 and 2015, and the region as a
whole saw a score improvement of 1.5 points.
Also it pointed out that Sub-Saharan
Africa saw impressive gains in food Quality & Safety, with Burkina Faso and
Mali leading the way, driven by improved access to quality protein, a measure
of the average consumption of essential amino acids in a country’s diet.
Burkina Faso also made significant strides in the diet diversification
indicator, with a 25% increase (87% score increase) in the amount of
non-starchy foods consumed in the average diet.
Dr Richard Okine,Regional Director
for DuPont Sub-Saharan Africa, speaking on the report said that,“Developing
countries often lack basic infrastructure, including storage, road and port
facilities, while smaller incomes inhibit access to and affordability of
nutritious food. Political risk and corruption frequently compound structural difficulties
in these countries. Investment in infrastructure and food systems in low-income
and lower-middle income countries is the key to narrowing the gap.”
He also stressed that an
overwhelmingly positive factor has been the fact that over the past few years,
the overall economic growth in the developing world has led to improvements in
the structural areas that are essential to improving people’s access to a wider
range of affordable, nutritious foods.
“This, according to Dr. Okine, includes
more extensive food safety-net programmes, expanded crop storage capacity and
dietary diversity.”
With such progress notwithstanding,
global food insecurity remains a challenge. According to UN estimates,NaijaAgroNet learnt that the world population is projected to increase
by 1 billion over the next 12 years and reach 9.6 billion by 2050, with growth
coming mainly from developing countries, with more than half in Africa. As populations’
boom and incomes rise in developing countries, the FAO also estimates that food
production will have to grow by 50% to meet demand.
The GFSI is an annual measure of
food security across 109 countries, produced by the EIU and sponsored by DuPont.
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Saturday, April 4, 2015
FAO: Sugar induces decline in food price index
NaijaAgroNet
The
Food and Agriculture Organization (FAO) Food Price Index has
continued to decline in March by1.5 per cent from February and 18.7 percent (40
points) below its level a year earlier, NaijaAgroNet reports.
The
FAO food price is a trade-weighted index that tracks prices of five major food
commodity groups on international markets, namely cereals, meat, dairy
products, vegetable oils and sugar.
NaijaAgroNet also reports that a
sharp fall in the price index for sugar which reached its lowest level since
February 2009 together with dipping prices for vegetable oils, cereals and
meat, more than offset a rise in dairy prices and contributed to the lower
index, which in March averaged 173.8 points.
The
FAO noted that the Sugar Price Index averaged 187.9 points in March, down a
sharp 9.2 percent from February. Stressing this was mainly due to improved crop
prospects but also the continued weakening of the Brazilian currency against
the US dollar, which is supportive to exports, NaijaAgroNet learnt.
The
cereal output estimate for 2014, on other hand, rose to 2 544 million tonnes
mainly due to a larger than anticipated maize harvest in the European Union,
which confirmed that the global cereal output in 2014 would outstrip the 2013
record by 1 per cent.
Cyriacus Nnaji/ GEE
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