Tridge summary
The Food and Agriculture Organization (FAO) of the United Nations has reported that international prices for key foods have reached their highest levels since December 2014. The vegetable oil price index showed an increase of 14.5 percent, largely due to demand for palm oil and shrinking global inventories. The grain price index strengthened by 2.5 percent since October and 20 percent since November, with wheat and corn prices increasing due to subdued production prospects and lower emissions. The sugar price index rose by 3.3 percent due to a negative global production outlook and expected adverse weather in Europe, Russia, and Thailand. Dairy prices also increased, reaching eighteen-month highs, while meat prices remained below their value from last year. The FAO has reduced its forecast for expected cereal yields but still expects to set a record with 2,742 million tonnes. The report also indicates that 45 countries, including 34 African nations, require external food aid.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The indicator, which tracks changes in international trade prices for key foods, has not reached such highs since December 2014, the FAO reported. More people could starve to death this year than Covid-19 kills Vegetable oil price index is outstanding (14.5 percent) showed an increase with the release of demand for palm oil caused by the shrinking global inventories. The FAO grain price index has strengthened 2.5 percent since October and about 20 percent since November last year. Wheat exports have become more expensive due to subdued Argentine production prospects, as has corn due to lower emissions from the United States and Ukraine and purchases from China. Rice prices have remained stable in international markets. The sugar price index rose 3.3 percent due to the negative global production outlook and the expected adverse weather in the EU, Russia and Thailand. Eighteen-month highs were decided by a 0.9 per cent monthly rise in dairy prices due to higher butter and cheese ...
Source: Napi Gazdasag
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