Food Price Index declines for 11th consecutive month - NaijaAgroNet

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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.

SUN Movement Strategic roadmap 2020 for launch in September

NaijaAgroNet:

The Scaling Up Nutrition (SUN) Movement has advanced plans to launch its strategic roadmap 2020 in the month of September, reports NaijaAgroNet.

The launch, NaijaAgroNet gathered would form part of the inauguration of the SUN Movement’s new Lead Group at the UN General Assembly in New York on Assembly in New York on 22 September, 2016.

Disclosing this, the interim coordinator, SUN Movement, Mr. Tom Arnold, told NaijaAgroNet, pointed out that it would be a moment members strive to connect all every member to join the event and engage with the Lead Group via webinar.

According to him, the SUN Business Network, for instance, is also organising an event in New York on August 20 to highlight business commitments to nutrition.

This meeting, he revealed will be a prelude to Ministers of Finance from partnering countries, presenting their scale up plans to accelerate actions on early child development and stunting reduction will be held during the Annual Meetings of the World Bank and International Monetary Fund in Washington in October.

Arnold further said that the SUN Movement Lead Group, Networks and Secretariat will support SUN country stakeholders in efforts to engage with Ministries of Finance ahead of this important meeting and in follow-up initiatives focusing on resource mobilization.

Just as he said, the 43rd session of the Committee for World Food Security will take place in Rome between October 17 and 21 with a focus on “Making a difference in Food Security and Nutrition.”

All SUN Countries and SUN Stakeholders, he said, are encouraged to participate to share their experience and to contribute to defining policy guidance which promotes convergence for food security and nutrition.

The Micronutrient Forum, Arnold said will be held in Cancun during the month of October from 24 through 28, where there will be an opportunity to convene SUN stakeholders, especially those from Latin America, for experience sharing.

With the SUN Movement Secretariat, we are dedicated to ensuring that you and your countries can make the most of these significant opportunities to bring political attention to nutrition, and galvanise finance for effective action.

“Given this busy agenda for nutrition actors across the Movement, in order to maximise attendance at the SUN Movement Global Gathering and offer an innovative and content rich opportunity for sharing and learning, the SUN Movement Secretariat will organise the Global Gathering in late February 2017,” he submitted, assuring that information to this effect will follow shortly on its location and logistical aspects of the event.

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Palm oil keeps global food price trending in April

NaijaAgroNet:

The Food and Agriculture Organisation (FAO) has said that its latest founding shows that palm oil keeps global food price trending in the month of April 2016, reports NaijaAgroNet.

Just as NaijaAgroNet gathered that its updated global cereal harvest forecast points to stable markets for key staples, which also rose in April, marking its third consecutive monthly increase after four years of decline.

Also, NaijaAgroNet reports that the FAO Food Price Index averaged 151.8 points in April, a 0.7 per cent increase from March, which is about 10 per cent below its level a year ago and more than a third off its 2011 highs.

The gradual increase, FAO said, is far from even across the board, adding that April's increase was driven by palm oil prices and, in a minor key, cereals, while sugar prices tapered down after a strong increase in March.

The FAO Food Price Index is a trade-weighted index tracking international market prices for five key commodity groups, namely the major cereals, vegetable oils, dairy, meat and sugar. Its decline over the past year reflects ample food supplies, a slowing global economy and a stronger U.S. dollar.

The FAO Vegetable Oil Price index rose 4.1 per cent, due largely to a grim 2016 production outlook for palm oil coupled with a growing worldwide demand.

NaijaAgroNet equally reports that the FAO Cereal Price Index rose 1.5 per cent on the month, due primarily to international maize quotations, themselves influenced by a weaker United States dollar and spillover from the oilseeds complex.

However, rice prices declined marginally, while wheat markets posted limited gains amid expectations of large supplies in the new season for the crop.

Remmy Nweke

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