World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


UN Food Price Index: Sharp Drop In Prices During May

UN Food Price Index Registers Sharp Drop In Prices During May

New York, Jun 7 2012 4:10PM

The United Nations today reported a sharp drop in global food prices during May owing to generally favourable supplies, growing global economic uncertainties and a strengthening of the United States dollar.

The monthly food price index of the Food and Agriculture Organization (FAO) averaged 204 points in May, down 9 points from April, the agency said in a news release. This was the lowest level since September 2011.

The index measures the monthly change in international prices of a basket of food commodities, including meat, dairy, sugar, and cereals.

“Crop prices have come down sharply from their peak level but they remain still high and vulnerable due to risks related to weather conditions in the critical growing months ahead,” said Abdolreza Abbassian, a senior grains economist with FAO, in a news release.

The agency raised the forecast for world cereal production by 48.5 million tonnes since May, with the bulk of the increase expected to come mainly from maize in the US amid an early start of the planting season and prevailing favourable growing conditions.

FAO’s latest forecast for world cereal production in 2012 stands at a record level of 2,419 million tonnes, 3.2 per cent up from the 2011 record.

“However, with planting still to be completed and much of the crop at very early stages of development, the final outcome will depend greatly on weather conditions in the coming months,” the agency stated.

Global rice production in 2012 is expected to increase by 2.2 per cent from 2011, to some 490 million tonnes, mostly reflecting larger plantings in Asia. At the same time, the latest indications point to a decrease of about 3 per cent in the production of wheat this year, to 680 million tonnes.

FAO noted that this is still well above the average of the past five years.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Ebola Cases Reaching Record Low

Highly contaminated waste is removed from an Ebola Treatment Unit and carried with caution to a disposal area, where it will be fed into an incinerator that burns it into ashes. Photo: WHO/R. Sørensen More>>

South Sudan: Pervasive Violence Against Healthcare

Juba, South Sudan, July 1, 2014 - Violence in hospitals and the destruction of medical facilities are denying medical services to many of South Sudan 's most vulnerable people, Médecins Sans Frontières (MSF) said today in a report, South Sudan Conflict: ... More>>

ALSO:

  • UN News - UNESCO chief denounces killing of journalists in South Sudan
  • Increasing Demand For Refined Products Will Increase Prices

    In last week's article I posted a chart from the International Energy Agency'srecent Oil Market Report that shows global demand for refined products catching up to supply by the 3rd quarter of this year. My opinion is that all of the analysts who are now ... More>>

    ALSO:

    Terrorist Attack On Hotel In Libyan Capital

    27 January 2015 – The United Nations Security Council today condemned in the strongest terms the deadly terrorist attack against the Corinthia Hotel in Tripoli, Libya, and underlined the need to bring the perpetrators, financiers and sponsors of such ... More>>

    ALSO:

    Malawi In Urgent Need After Intense Flooding

    Torrential rains in Malawi have caused dozens of deaths, with hundreds of people still missing. Photo: UNDP/Arjan van de Merwe More>>

    Lack Of Funding Hampering Aid To Syria

    Deputy Emergency Relief Coordinator Kyung-wha Kang briefs the Security Council on the situation in Syria. UN Photo/Eskinder Debebe More>>

    Spy Agency CSE Is Monitoring Our Private Online Activities

    Breaking - Spy agency CSE is monitoring our private online activities on a massive scale and sharing sensitive data with other governments More>>

    UN ‘blue Helmet’ Killed Near Lebanon-Israel Cross-Fire

    28 January 2015 – A United Nations peacekeeper with the UN Interim Force in Lebanon ( UNIFIL ) was killed today near the border with Israel but the precise cause of death is as yet undetermined and remains the subject of investigation, according ... More>>

    ALSO:


    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news