News

The world food price index in November was the same as the previous month: Rising oils, dairy products, and sugar

Argentina
Market & Price Trends
Australia
Brazil
Russia
Published Dec 9, 2023

Tridge summary

The Ministry of Agriculture, Food and Rural Affairs announced that the World Food Price Index remained the same as the previous month at 120.4, after a continuous decline from 124.1 in July to 120.4 in October. Prices of oils, dairy products, and sugar rose, while grain and meat prices fell. The increase in oil prices was due to increased purchases by major importing countries and low production in major producing countries, while the decrease in meat prices was a result of lower import demand and increased supply.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The World Food Price Index continued to fall from 124.1 in July this year to 120.4 in October, but this decline stopped last month. FAO investigates international price trends for 24 items and compiles and announces the food price index for each of 5 product groups every month. The index is a comparison of the average price from 2014 to 2016 with 100. By product group, prices of oils, dairy products, and sugar rose, while grain and meat prices fell. Last month, the oil price index was 124.1, up 3.4% from the previous month. Palm oil prices have risen due to increased purchases by major importing countries and low production in major producing countries. The price of sunflower seed oil also rose as import demand continued. On the other hand, the price of soybean oil fell as international demand slowed, and the price of rapeseed oil also fell due to sufficient international supply. The dairy price index was 114.2, up 2.2% compared to the previous month. Prices of butter and skim ...
Source: Yna
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