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NEW YORK, Nov. 1 (Xinhuanet) – The United Nations Food and Agriculture Organization (FAO) said the drop in world food prices in October had hit record lows. level since May and explained that this decrease mainly concerned the prices of dairy products, meat oils and vegetable oils.
The FAO Food Price Index, which measures the monthly change in international prices for certain food products, reached 163.5 points last October, down 0.9% from September and 7.4% compared to the previous year.
The statement pointed out that FAO's average dairy price index had reversed the overall trend after falling 4.8% from the previous month and 34% from the February 2014 figure. He explained that the decline in prices reflected an increase in exports of all major dairy products, particularly from New Zealand. .
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The average index of meat prices fell 2% from September, when prices for beef, beef and poultry fell due to the collapse in cash availability. export, FAO said.
While the average price of vegetable oil prices rose 1.5%, registering a decline for the ninth consecutive month to reach its lowest level since April 2009.
FAO said the recent decline was mainly due to slowing global demand for palm oil and large stocks of major commodity exporters. International prices of soybean oil have increased slightly.
The average FAO cereal price index rose after a 1.3% increase over last September, mainly due to improved corn prices from the United States.
In contrast, FAO reported a decline in rice prices partly influenced by currency movements and their impact on the Japanese rice and aromatic varieties.
FAO's average sugar prices rose by 8.7%, mainly due to climate-related production prospects in India and Indonesia, as well as indications of an increase in sugarcane production. in Brazil used to produce ethanol.
WAM / New / Assem Al-Khouli
© Copyright Emirates News Agency (WAM) 2018.
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