Global Food Prices Edge Lower In June As Grains, Sugar Decline
ISTANBUL, July 3 (Bernama-Anadolu) -- Global food commodity prices edged lower in June, as declines in cereal, sugar and dairy prices outweighed increases in vegetable oils and meat, Anadolu Ajansi (AA) reported, citing the United Nations Food and Agriculture Organisation (FAO).
The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, averaged 130.3 points, down 0.3 per cent from May.
The index remained 1.7 per cent above its level a year earlier, though it was still 18.7 per cent below its March 2022 peak.
The FAO Cereal Price Index fell 3.5 per cent month-on-month to 110.2 points, as world wheat prices declined 4.4 per cent on rapid harvest progress and improved supply prospects in the Black Sea region.
Maize prices also dropped, pressured by expectations of ample supplies in South America and lower crude oil prices weighing on biofuel demand.
The Sugar Price Index decreased 5.7 per cent from May to 89.7 points, its fourth consecutive monthly fall. FAO said lower domestic ethanol prices in Brazil encouraged more sugarcane to be directed to sugar production, adding downward pressure on international sugar prices.
Meanwhile, the Dairy Price Index fell 1.5 per cent month-on-month to 117.4 points, with prices declining across all dairy products.
By contrast, the Vegetable Oil Price Index rose 3.8 per cent to 192 points, standing 23.3 per cent above its level a year earlier, driven mainly by higher palm and rapeseed oil prices.
The Meat Price Index increased 0.4 per cent from May and 4 per cent year-on-year to 131 points, reaching a new record high, led by higher poultry and ovine meat prices.
FAO also updated its cereal outlook, forecasting global cereal production in 2026 at 2.98 billion tonnes, down 1.9 per cent from last year’s record but still the second-highest level on record.
The agency said 41 countries, including 31 in Africa, continue to require external assistance for food, as conflict, insecurity, weather shocks and high food prices keep acute food insecurity elevated.
-- BERNAMA-ANADOLU
Latest News
- CPO Futures Extend Losses On Rising Output, Stocks Concerns
- Lawn Bowls: Emma Firyana Is Now The World No 1
- Govt Intensifies Efforts To Boost Awareness Of RM5 Bln Micro-Financing -- Treasury Sec-Gen
- AADK Personnel Killed In Bera Crash Involving Drug-suspected Driver
- Belgium Deputy PM Departs Malaysia After Two-Day Working Visit