The global food price index increased by 1.2 percent compared to the previous month and reached 94.2 percent in July compared to the same month of the previous year. According to the statement made by the United Nations Food and Agriculture Organization (FAO), the vegetable oil price index increased by 7.6 percent in July compared to the previous month, reaching the highest level in the last 5 months. While prices in all products from butter and cheese to milk powder rose, the dairy price index also increased by 3.5 percent monthly.
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The grain price index did not change much compared to June. While strong sugar cane cracking figures from Brazil slowed the price increases relatively, lower sugar production expectations due to rising energy prices in Thailand due to severe drought caused a 1.4 percent increase in the sugar price index. The meat price index fell by 1.8 percent on a monthly basis in July and 9.2 percent compared to the same month of the previous year. Despite the disruptions in the sector due to the effects of the new type of coronavirus epidemic in the main export regions, the global import demand volume remained below exports, reducing pork and beef prices. Poultry meat prices soared in Brazil, driven by higher feed ...
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