World: In July, the value of FAO Food Price Index declined again

Published 2021년 8월 5일

Tridge summary

The FAO Food Price Index for July 2021 was 1.2% lower than June but 31.0% higher than the previous year. The decrease was due to lower prices for grain, dairy products, and vegetable oils, but meat and sugar prices increased. The Grain Price Index was 3.0% lower than June but 29.6% higher than July 2020, driven by lower international corn prices. The Vegetable Oil Price Index was 1.4% lower than June, reaching its lowest level in recent years. The Dairy Price Index decreased for the second month in a row, and the Meat Price Index increased, with poultry, lamb, and beef prices rising due to increased imports and declining supply.

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

Original content

The average value of the FAO Food Price Index (CPI) in July 2021 was 123.0 points, which is 1.5 points (1.2 percent) lower than in June, but still 29.1 points (31, 0 percent) above the same period last year. The decline recorded in July was due to lower prices for grain, dairy products and vegetable oils against the background of the second month in a row increase in meat and sugar prices. The average value of the FAO Grain Price Index in July was 125.5 points, which is 3.8 points (3.0 percent) lower than in June, but 28.6 points (29.6 percent) higher than in July 2020. International Corn prices for the month fell by 9.1 points (6.0 percent), due to higher-than-expected yields in Argentina and improved yields in the United States. China's cancellation of orders for the supply of old-fashioned corn has also contributed to lower quotations for this crop. At the same time, the restraining effect on prices was exerted by the remaining concerns about the state of the harvest in Brazil, ...

Source: Agroconf