World: The FAO food price index was virtually unchanged in September

Published Oct 6, 2023

Tridge summary

The FAO Cereal Price Index increased slightly in September due to a rise in international feed grain prices, while wheat prices continued to decline. The FAO Vegetable Oil Price Index decreased for the second consecutive month, driven by lower global prices of palm, sunflower, soybean, and rapeseed oils. The FAO Dairy Price Index continued to decline, with all dairy products experiencing lower international prices due to weak import demand and increased export opportunities. The FAO Meat Price Index also declined, except for beef, as pork and poultry prices fell due to weak import demand and abundant supplies. However, sugar prices increased for the second month in a row due to concerns about tightening global supply and higher international oil prices.

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

Original content

More expensive feed grains, cheaper wheat The FAO Cereal Price Index averaged 126.3 points in September, up 1.3 points (1.0 percent) on August but remaining 21.6 points (14.6 percent) below a year ago. This month's increase was due to a 5.3% increase in international feed grain prices. After seven months of consecutive declines, international corn prices rose 7.0 percent in September, driven by a confluence of factors including strong demand for supplies from Brazil, slower sales by farmers in Argentina and increased barge freight rates due to low water on the Mississippi River in the USA. Among other feed grains, global sorghum prices also increased in September, in line with corn price trends, while barley prices remained broadly stable. In turn, international wheat prices continued to decline, declining by 1.6%. on a monthly basis, supported by large deliveries from Russia, where production prospects increased in September. Decrease in prices of all oils The FAO Vegetable Oil ...

Source: Farmer.pl