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Yahoo
2 days ago
- Business
- Yahoo
Food commodity prices declined in May, led by maize and palm oil
World food commodity prices fell month-on-month in May driven by declines in maize and palm oil prices, despite high butter and bovine meat prices. The FAO Food Price Index, created by the Food and Agriculture Organization of the United Nations, averaged 127.7 points in May, a decline of 0.8% from April. However, the index was 6% higher than its level in May 2024. Of the five commodity groups tracked in the index, prices for vegetable oils, cereals, and sugar fell, while dairy and meat saw increases. The FAO Vegetable Oil Price Index dropped 3.7% from April, with all major oils recording lower quotations. 'International palm oil prices declined markedly, primarily due to seasonal output and availability increases in South East Asia. Global soy oil prices were impacted by higher supplies in South America and subdued demand for biofuel feedstock," the UN agency said. today (6 June). "Rapeseed oil prices eased on improved supply prospects in the European Union, while sunflower oil prices fell due to weakening global import demand and reduced price competitiveness." The FAO Cereal Price Index dropped 1.8% from April, standing 8.2% below its May 2024 level. 'Global maize prices declined sharply, owing to strong harvests and robust availability in Argentina and Brazil and expectations of a record crop in the US,' said the FAO. Global wheat prices fell due to better crop conditions in the northern hemisphere, while the FAO All-Rice Price Index rose by 1.4%, 'driven by firm demand for fragrant varieties, higher prices for Indica rice, and currency fluctuations'. The FAO Sugar Price Index decreased by 2.6% in May, primarily due to 'concerns over the uncertain world economic outlook, possible weaker demand from the beverage and food processing industries, and expectations of a recovery in global production next season'. The FAO Dairy Price Index rose by 0.8% in May, 'with strong demand from Asia keeping international butter prices at historic highs and spurring higher prices for cheese and whole milk powder'. The FAO Meat Price Index rose by 1.3% from its revised April level, driven by 'higher quotations for ovine, pig and bovine meats, with the latter reaching a new historic high'. In contrast, poultry meat prices declined, 'driven by lower quotations in Brazil, where the detection of high-pathogenicity avian influenza on a commercial farm in mid-May prompted import bans by several major importing countries, resulting in surplus supplies', the FAO added. The UN agency also released its latest Cereal Supply and Demand Brief, projecting a "record" global cereal production of 2,911 million tonnes in 2025, a 2.1% increase from 2024. Global cereal utilisation is expected to rise 0.8% in 2025/26 to 2,898 million tonnes, with food consumption growing 0.9% and feed use increasing 0.5%. With production exceeding utilisation, world cereal stocks are forecast to grow 1% to 873.6 million tonnes, recovering from last year's decline. The global stock-to-use ratio will hold steady at 29.8%, the FAO predicted. Global cereal trade is set to rebound 1.9% to 487.1 million tonnes, driven by a 3.8% rise in wheat trade, despite a 0.7% drop in rice trade. "Food commodity prices declined in May, led by maize and palm oil – FAO" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
See - Sada Elbalad
11-03-2025
- Business
- See - Sada Elbalad
FAO Food Price Index Rose in February 2025
Basant Ahmed The FAO Food Price Index (FFPI) averaged 127.1 points in February 2025, up 2.0 points (1.6 percent) from its revised January level. While the meat price index remained stable, all other price indices rose, with the most significant increases recorded for sugar, dairy, and vegetable oils. The overall index was 9.7 points (8.2 percent) higher than its corresponding level one year ago; however, it remained 33.1 points (20.7 percent) below the peak reached in March 2022. The FAO Cereal Price Index averaged 112.6 points in February, rising by 0.8 points (0.7 percent) from January but remaining 1.2 points (1.1 percent) below its February 2024 level. Wheat export prices increased month-on-month, driven by tighter domestic supplies in the Russian Federation, which constrained export volumes and shifted demand to other suppliers, adding upward pressure on global prices. Additional support for the price increases came from concerns over unfavorable crop conditions in parts of Europe, the Russian Federation, and the United States of America. World maize prices continued their upward trend in February, primarily due to tightening seasonal supplies in Brazil, worsening crop conditions in Argentina, and strong export demand for the United States' maize. Among other coarse grains, world prices of barley and sorghum also increased. By contrast, the FAO All Rice Price Index declined by 6.8 percent in February, as ample exportable supplies and weak import demand exerted downward pressure on prices. The FAO Vegetable Oil Price Index averaged 156.0 points in February, up 3.0 points (2.0 percent) from the previous month and as much as 35.1 points (29.1 percent) above its level a year earlier. The increase in the index was driven by higher quotations across palm, rapeseed, soy, and sunflower oils. After a brief decline in January, international palm oil prices rebounded moderately and maintained their premiums over competing oils. The increase was largely underpinned by seasonally lower outputs in Southeast Asian producing countries and expectations of increased demand from the biodiesel industry in Indonesia. Meanwhile, global soyoil prices increased due to firm global demand, particularly from the food sector. In the case of sunflower and rapeseed oils, prices were mainly supported by concerns over likely tightening supplies in the coming months. The FAO Meat Price Index averaged 118.0 points in February, down marginally by 0.1 points (0.1 percent) from January but remaining at 5.4 points (4.8 percent) above its level a year ago. International poultry meat prices declined, driven by abundant global supplies primarily due to high export availabilities from Brazil despite continuing avian influenza outbreaks in other major producing countries. Similarly, pig meat prices softened, pressured by lower quotations in the European Union. While prices showed signs of stabilization, they remained below early January levels (before the outbreak of foot and mouth disease) due to a surplus caused by trade restrictions on German pig meat. By contrast, ovine meat prices rose, underpinned by strong global demand. New Zealand's export volumes declined due to lower production, but higher slaughter rates in Australia raised supply, limiting the price increases. Meanwhile, bovine meat quotations strengthened, driven by rising Australian prices amid robust global demand, particularly from the United States of America. However, the increase was partially offset by lower Brazilian bovine meat prices due to ample cattle supplies. The FAO Dairy Price Index stood at 148.7 points in February, rising by 5.7 points (4.0 percent) from January and standing at 28.0 points (23.2 percent) higher than
Trade Arabia
08-03-2025
- Business
- Trade Arabia
Global food price index up in February on sugar, dairy prices: FAO
The benchmark for global food commodity prices rose in February, propelled by increases in sugar, dairy, and vegetable oil prices, according to the new Food and Agriculture Organisation of the United Nations (FAO) report. The FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally traded food commodities, averaged 127.1 points in February, up 1.6% from the previous month and 8.2% higher than its February 2024 level. The surge was largely driven by the FAO Sugar Price Index, which rose by 6.6% from January after three consecutive months of decline, reaching 118.5 points in February. The increase was fuelled by concerns over likely tighter global supplies for the 2024/25 season, particularly due to declining production prospects in India and adverse weather conditions affecting crops in Brazil. The FAO Dairy Price Index increased by 4.0%t from January, averaging 148.7 points. The rise was the result of higher prices across all major dairy products, including cheese and whole milk powder, as strong import demand exceeded production in key exporting regions. The FAO Vegetable Oil Price Index averaged 156.0 points in February, up 2% from January and as much as 29.1% higher than a year earlier. The increase was largely the result of higher prices for palm, soy, and sunflower oils, driven by seasonal supply constraints in Southeast Asia and robust demand from the biodiesel sector. The FAO Cereal Price Index edged up 0.7% in February, averaging 112.6 points. Wheat prices increased due to tighter supplies in the Russian Federation and concerns over crop conditions in eastern Europe and North America, though the overall index remained slightly below its February 2024 level. World maize prices continued to rise, underpinned by tightening supplies in Brazil and strong US export demand. By contrast, world rice prices fell by 6.8% in February due to ample exportable supplies and weak import demand.
