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The FAO Food Price Index averaged nearly 171 points in March, marking a 2.8 percent drop from the previous month while remaining 13.4 percent above its level a year earlier.
The FAO Cereal Price Index declined 1.8 percent from February, led down by wheat and maize. It is now roughly par with its March 2016 level.The FAO Vegetable Oil Price Index was 6.2 percent lower on the month. Palm oil and soy oil quotations both fell in March on the back of improving production forecasts, while those of rape and sunflower seed oils also declined due to higher-than-expected availabilities.
The FAO Sugar Price Index declined by 10.9 percent to its lowest level since May 2016 amid weak import demand and expectations of robust Brazilian supplies entering world markets as a result of strong harvests and slower domestic uptake for bio-ethanol production.
Buoyant milk supplies led to a 2.3 percent monthly decline in the FAO Dairy Price Index, which, however, remained well above its year-ago level.
The Meat Price Index averaged 163.2 points in March, up 1.2 points (0.7 percent) from February and 17 points (12 percent) higher than in March 2016. Quotations for the individual categories of meat were little changed. Slight increases for bovine meat and pigmeat were, respectively, influenced by continued constrained availability in Oceania and firm import demand from Asia, particularly China. Poultry and ovine meat markets remained well-balanced.
Thursday April 6, 2017/ FAO.
http://www.fao.org
