FAO: Global cereal prices fall while vegetable oil prices rise in November

Foreign media news on December 10: A report released by the Food and Agriculture Organization of the United Nations on Friday showed that the global food price index stabilized in November as grain prices fell, but this was offset by rising vegetable oil prices. ​ The price index used to track the world's most traded food commodities averaged 120.4 points in November, close to the level in October and the lowest level since March 2021. Compared with the same period last year, the November data fell 10.7%. ​ Judging from the performance of various sub-indexes, the cereal price sub-index in November was 121.0, down 3% from October and 19.4% from the same period last year. This mainly reflected the lower international coarse grain prices, which was down 5.6% from October, causing this decline. The main reasons are a sharp fall in world corn prices, an accelerated pace of sales by Argentinian farmers, and a seasonal increase in U.S. corn supplies (production forecast is raised). ...