FAO Food Price Index Eases In April

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World meals commodity costs decreased in April after a big bounce the earlier month, led by modest declines within the costs of vegetable oils and cereals, the Food and Agriculture Group of the United Nations (FAO) reported on Friday.

Based on an FAO launch, the organisation’s Food Price Index averaged 158.5 factors in April 2022, down 0.8 % from the all-time excessive reached in March.

The Index, which tracks month-to-month modifications within the worldwide costs of a basket of commonly-traded meals commodities, remained 29.8 % greater than in April 2021.

The discharge mentioned the FAO Vegetable Oil Price Index decreased by 5.7 % in April, shedding virtually a 3rd of the rise registered in March, as demand rationing pushed down costs for palm, sunflower and soy oils whereas uncertainties about export availabilities out of Indonesia, the world’s main palm oil exporter, contained additional declines in worldwide costs.

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“The small decrease in the index is a welcome relief, particularly for low-income food-deficit countries, but still food prices remain close to their recent highs, reflecting persistent market tightness and posing a challenge to global food security for the most vulnerable,” mentioned FAO Chief Economist Máximo Torero Cullen.

The FAO Cereal Price Index declined by 0.7 factors in April, nudged down by a 3.0 % decline in world maize costs.

International wheat costs, strongly affected by continued blockage of ports in Ukraine and issues over crop circumstances in the USA of America however tempered by bigger shipments from India and higher-than-expected exports from the Russian Federation, elevated by 0.2 %.

International rice costs elevated by 2.3 % from their March ranges, buoyed by sturdy demand from China and the Close to East.

The FAO Sugar Price Index elevated by 3.3 %, buoyed by greater ethanol costs and issues over the gradual begin of the 2022 harvest in Brazil, the world’s largest sugar exporter.

The FAO Meat Price Index elevated by 2.2 % from the earlier month, setting a brand new document excessive, as costs rose for poultry, large and bovine meat.

Poultry meat costs have been affected by disruptions to exports from Ukraine and rising avian influenza outbreaks within the Northern hemisphere.

Against this, ovine meat costs averaged marginally decrease.

The FAO Dairy Price Index additionally was up, by 0.9 %, on the again of persistent world provide tightness as milk output in Western Europe and Oceania continued to trace beneath their seasonal ranges.

World butter costs rose essentially the most, influenced by a surge in demand related to the present scarcity of sunflower oil and margarine.

Supply: Food and Agriculture Group of the United Nations/SLT

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