World food prices are stable

Published 2024년 7월 8일

Tridge summary

In June, the FAO's average food price index was 120.6 points, with falling cereal prices offsetting the rising costs of vegetable oil and dairy products. Improved harvests in major exporters like Kazakhstan and Ukraine, along with higher corn output in Argentina and Brazil, led to a 3% drop in grain prices. However, rice prices are increasing due to India's export restrictions. The FAO forecasts a record global cereal production in 2024, driven by increased corn and wheat harvests in South America, Türkiye, Ukraine, and Asia. Despite these positive trends, conflicts, droughts, and climate change are causing severe food insecurity in regions such as Yemen, Gaza, and Sudan, potentially leading to permanent food inflation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Accordingly, falling cereal prices help balance the upward trend of vegetable oil price index and dairy product prices. According to FAO, the average food price index in June reached 120.6 points. This number has not changed much compared to the 120.4 points recorded in May. FAO said grain prices fell 3% from last month as grain harvests in the world's top grain exporters such as Kazakhstan and Ukraine have gradually improved. At the same time, export corn prices also decreased because corn output in Argentina and Brazil is expected to be higher than the previous period. A report by international independent consulting firm Oxford Economics - a commercial joint venture of the Oxford University School of Commerce, headquartered in Oxford (UK) - points out that although wheat and corn prices have decreased, strong but rice prices are still rising steadily as global supply is choked by export restrictions imposed by India. India is a country that accounts for about 40% of the world's ...

Source: Voh