In July, the most significant increase in world prices was shown by dairy products - FAO
Published Aug 8, 2020
Tridge summary
According to a specialized report of the FAO, food prices in the world continue to grow for the second month in a row, with vegetable oils and dairy products rising significantly, reported in the press service of the organization to The DairyNews.
Original content
The average value of the FAO food price index in July was 94.2 points, which is 1.2 percent higher than in June and almost 1.0 percent higher than in July 2019. The FAO food price index is used to track international prices for the most marketable food products ... The FAO vegetable oil price index rose by 7.6 per cent compared to June value and reached its highest level in five months: the increase in international rates for basic vegetable oils is due to an expected decline in production volume, as in the case of palm oil , as well as increased international import demand and a shortage of migrant workers. Over the past month, the value of the FAO dairy price index increased by 3.5 per cent, with price rise affecting all products included in it, from butter and cheese to milk powder. The value of the FAO grain price index remained almost unchanged from June level: on the one hand, large – scale purchases made by China in the United States of America triggered a sharp increase in ...
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