X
XLinkedinWhatsAppTelegramTelegram
0

Latest FAO Food Price Index shows first decrease in eight months

The FAO Food Price Index has dropped for the first time after eight months of continuous price spikes. The Index averaged 230 points in March 2011, down 2.9 percent from its peak in February, but still 37 percent above March of last year.
11 April 2011
X
XLinkedinWhatsAppTelegramTelegram
0
The FAO Food Price Index has dropped for the first time after eight months of continuous price spikes. The Index averaged 230 points in March 2011, down 2.9 percent from its peak in February, but still 37 percent above March of last year.

The Cereal Price Index averaged 252 points in March, down 2.6 percent from February, but still 60 percent higher than in March 2010. March was extremely volatile for grains, with international quotations first plunging sharply, driven largely by outside market developments such as the increased economic uncertainties accompanying the turmoil in North Africa and parts of the Near East as well as the Japanese earthquake and tsunami, before regaining most of their losses. Rice prices also fell as a result of abundant supply in exporting countries and sluggish import demand.

The FAO Meat Price Index averaged 169 points in March, little changed from February.

A positive outlook but food stocks diminish

World production of cereals fell in 2010, resulting in falling stocks, while total cereal utilization is expected to reach a record level in 2010/11.

While most indications point to increased cereal production in 2011, the projected growth may not be sufficient to replenish inventories, in which case prices could remain firm throughout 2011/12 as well.

http://www.fao.org/news/story/en/item/55029/icode/

Article Comments

This area is not intended to be a place to consult authors about their articles, but rather a place for open discussion among pig333.com users.
Leave a new Comment

Access restricted to 333 users. In order to post a comment you must be logged in.

You are not subscribed to this list pig333.com in 3 minutes

Weekly newsletter with all the pig333.com updates

Log in and sign up on the list

Related articles