Global grain and cereal prices experienced a notable decline in July, as reported by the United Nations Food and Agriculture Organization (FAO). The sub-index for grains and cereals fell by 3.8% from May, and by 12.0% year-over-year, largely due to abundant wheat harvests in the Northern Hemisphere and robust corn production in Argentina and Brazil, along with a lull in rice trading. Conversely, other sub-indexes showed mixed trends: vegetable oil prices surged by 2.4% to an 18-month high, driven by increased costs for palm, soy, sunflower, and rapeseed oils, with soy oil prices rising significantly due to biofuel demand and poor crop prospects for sunflower and rapeseed oils. Meat prices rose by 1.2%, and sugar prices increased slightly by 0.7% due to weak production in Brazil. Dairy prices remained steady as balanced demand and production issues offset each other. Despite the rises in vegetable oil, meat, and sugar prices, the overall FAO Food Price Index remained virtually unchanged from June, thanks to the significant drop in grain and cereal prices.
Please find original version of article below:
https://en.inform.kz/news/world-food-prices-decline-modestly-in-july-fao-3c3bf5/
Photo credit: Pixabay
The information shared by the Islamic Organization for Food Security (“IOFS”) on iofs.org.kz (the “Site”) serves solely for general informational purposes. As a non-profit international organization, IOFS provides this information in good faith, with no intention to commercialize, profit, or exploit any content. Commercial use, including reselling, charging for access, redistribution, or creating derivative works, such as unofficial translations based on these documents, is strictly prohibited. All posts, publications, texts, and any other information on the Site, owned by authors and references, are appropriately linked.
IOFS disclaims any liability for loss or damage of any kind resulting from the use of the Site. Your understanding and compliance with these terms contribute to maintaining the informative and non-commercial nature of our platform.
