World food prices fall to 17-month low, says FAO

Published 2020년 6월 3일

Tridge summary

In May, the World food prices fell for the fourth consecutive month, with the FAO Price Index averaging 162.5, a 1.9% decline from April, reaching its lowest level since December 2018. This decrease is due to the economic impact of the coronavirus pandemic, with dairy prices leading the decline by 7.3%, followed by cereals, vegetable oils, and meat by 1%, 2.8%, and 0.8% respectively. However, sugar prices saw a significant increase of 7.4% due to lower than expected harvests in major producers like India and Thailand. The FAO also forecasts a 2.6% increase in global cereal production for the 2020 season, totaling 2.78 million tons.

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Original content

World food prices fell for the fourth consecutive month in May, affected by the economic impact of the coronavirus pandemic that has stalled demand, the Food and Agriculture Organization of the United Nations (FAO) said on Thursday. The FAO Price Index, which measures monthly changes for a basket of grains, oilseeds, dairy products, meats and sugar, averaged 162.5 last month, a 1.9% decline from April. It was the lowest reading since December 2018. The dairy measurement fell 7.3%, with sharp declines in both butter and cheese prices. The cereal price index decreased 1%. The vegetable oil price index fell 2.8% to a 10-month low, while that of meat lost 0.8%. Against the general downward trend, the measurement of sugar values climbed 7.4%, largely due to lower than expected harvests in ...

Source: Agro Negocios