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

 

Israel’s Demolition Of Palestinian Homes

Makarim Wibisono, Special Rapporteur on the situation of human rights in the Palestinian territories. UN Photo/Violaine Martin More>>

ALSO:

  • Palestinian Centre For Human Rights - Israeli Settlers Continue Their Attacks against Palestinians
  • Tribespeople Call On WWF To Stop Funding Abuse

    This Baka man from Ndongo village reported that he was severely beaten by anti-poaching squads on two occasions. His neighbors have appealed to WWF to stop funding such abuses. More>>

    Ebola: UN Crisis Response Mission Opens New Office In Mali

    Workers build an enclosure at the Mayagba Ebola community care centre construction site in Bombali District, which is among the areas worst affected by the disease in Sierra Leone. Photo: UNICEF/John James More>>

    ALSO:

    UNESCO Chief Denounces Murder Of Somali Radio Journalist

    Director-General of the UN Educational, Scientific and Cultural Organization (UNESCO), Irina Bokova. UN Photo/Devra Berkowitz More>>

    Palestinian Refugees From Syria Face Worsening Situation

    Palestinian women at a UNRWA distribution centre in the Jaramana refugee camp, Damascus, Syria. Photo: UNRWA/Carole Alfarah More>>

    ALSO:

    Greece Risks Prolonged Social Crisis

    Greece’s severe financial crisis has bred social unrest and intolerance of the nearly one million irregular migrants living in the country (October 2012). Photo: IRIN/Kristy Siegfried More>>

    Madagascar: Warning Of ‘rapid’ Spread Of Plague In Capital

    Ny Hantra Andriatsifasoa survived the bubonic plague after being infected in Madagascar in 2011. Photo: IRIN/Tiana Randriaharimalala More>>

    New Bird Flu Strain In Europe Threatens Poultry Sector

    24 November 2014 – The United Nations Food and Agriculture Organization ( FAO ) today warned that a new bird flu strain detected in Europe poses a significant threat to the poultry sector, especially in low-resourced countries situated along ... More>>


    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news