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"The FAO Food Price Index averaged 173.7 points in June, down 1.3 percent from its May level. This is mainly due to lower price quotations for wheat, maize and vegetable oils, including those made from soybeans, "says Fao in its monthly opinion.
The Index FAO food price index is indeed a trade-weighted index that tracks monthly changes in major food groups.
On this basis, the FAO Cereal Price Index showed a decline 3.7 per cent during the month, notes FAO. And "despite unfavorable production prospects for the major grains, overall, world prices for corn and wheat have shown" sharp declines ", reflecting a worsening of trade tensions, says the UN agency based in Rome (Italy) emphasizing, however, that "rice prices have risen."
In addition, the FAO notes, global trade tensions "cast doubt" on price quotations for cereals and vegetable oils. To know that "the aggravation of the commercial tensions between the United States and the People's Republic of China strongly influenced the prices of American exports, beginning with the soya beans, and with the dollar which exerted a new negative pressure "
However, the FAO" predicts a drop in grain production and stocks ". In fact, its new projections published today in the FAO Bulletin on Cereal Supply and Demand forecast a drop of 24 million tonnes compared to last month, mainly reflecting lower production forecasts for wheat. in the European Union and for wheat and coarse grains in Russia and Ukraine, the document states
ODL / te / APA
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