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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 Price. Show all posts
Showing posts with label Price. 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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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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