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Rome, July 5 (elmundo.cr) – International food prices fell in June for the first time in 2018, as trade tensions hit markets, even with prospects of declining global production. 19659002] The FAO Food Price Index averaged 173.7 points in June, down 1.3% from its May level. The decrease is mainly due to lower benchmark prices for wheat, corn and vegetable oils, including those made with soybeans.
The FAO Food Price Index is a measure of the monthly change in international price of a basket of food products.
The FAO cereal price index fell 3.7 percent on a monthly basis. Despite the general deterioration in production prospects for major grains, international corn and corn prices have experienced "relatively large declines," reflecting increased trade tensions. On the contrary, rice prices rose
The FAO vegetable oil price index fell by 3.0 percent from May, reaching its minimum level of 29 months. Prices of palm, soybean and sunflower oils also fell.
The increase in trade tensions between the United States and the People's Republic of China has particularly weighed on US export prices, particularly soybeans. , with the strength of the US dollar exerting further downward pressure.
The FAO dairy product price index decreased by 0.9 percent, due to lower cheese prices – reflecting the increase in export availabilities in the Union European and United States of America – more than offset the rise in prices of skimmed milk powder.
The FAO meat price index rose 0.3 percent from May, led by an increase in sheep and pork values.
The FAO sugar price index rose 1.2 percent, reversing six monthly declines. consecutive years, mainly because the dry climate in Brazil – the largest sugar producer and exporter in the world – negatively affects sugar cane yields and production.
in Cereal Production and Stocks
FAO has also updated its forecast for this year's global cereal production, which now stands at $ 2,586 million. tonnes, or 64.5 million tonnes (2, 4%) less than the record production of 2017.
The new forecast released today in the FAO information note on the ########################################################################### 39 supply and demand for cereals are 24 million tonnes lower than FAO's forecast for the past month, reflecting the poor prospects for wheat production in the EU and cereals and wheat in the Federation. Russia and Ukraine.
Global utilization of cereals is expected to reach 2,641 million tonnes in 2018/19.
Since utilization is expected to exceed new production, global cereal stocks accumulated over the past five seasons will need to be reduced by about 7 percent from their opening levels. of the season. This should result in a ratio of world cereal stocks to 27.7 percent, the first decline in four years – down from 30.6 percent – although still well above The decline in stocks is expected to be more pronounced for maize, while rice stocks are expected to increase for the third year in a row.
With regard to world cereal trade, forecasts indicate that it will remain broadly solid also in 2018/19, close to the near-record level of 2017/18.
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